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    Srei Infrastructure reports Q2 profit of Rs 55 crore

    Synopsis

    Consolidated income for the quarter under review too dipped to Rs 1,424.18 crore from Rs 1,537.43 crore.

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    Consolidated disbursements during the July-September quarter was Rs 5,505 crore compared to Rs 5,822 crore.

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    Srei Infrastructure Finance reported a 50.1 % drop in its consolidated profit after tax to Rs 55.37 crore during the quarter ended September 30, 2019, from Rs 110.97 crore profit clocked in the corresponding period last year.

    Total consolidated income for the quarter under review too dipped to Rs 1,424.18 crore from Rs 1,537.43 crore recorded during the quarter ended September 30, 2018.

    For the first six months of this financial year 2019-20, the company's consolidated PAT stood at Rs 98.04 crore (Rs 250.52 crore) and total consolidated income at Rs 3,003.77 crore (Rs 3,027.58 crore), said a press statement issued by the company.

    Consolidated disbursements during the July-September quarter was Rs 5,505 crore compared to Rs 5,822 crore posted in the corresponding previous period, while consolidated disbursements for the half-year ended September 30, 2019, was Rs 8,893 crore as against Rs 11,763 crore in the corresponding previous period.

    Consolidated assets under management in the said quarter stood at Rs 46,500 crore (Rs 50,892 crore), the release said.

    Commenting on the results, Srei Infrastructure Finance chairman Hemant Kanoria said: "Our strategy during the quarter was to constantly increase the co-lending business along with banks, so as to augment our risk-weighted returns. In the present environment of slow economic growth, we have been growing carefully, protecting our margins. We hope that by the last quarter of the year, infrastructure projects will be announced by the government in a substantial manner."
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