Friday

15


November , 2019
SREI reports consolidated PAT of Rs 55.37 crore in Q2 FY20
17:21 pm

B.E. Bureau


SREI Infrastructure Finance Limited has reported a consolidated profit after tax (PAT) of Rs 55.37 crore during the quarter ended on September 30, 2019 as compared to Rs 110.97 crore during the corresponding quarter of previous year.

The company's consolidated PAT was at Rs 98.04 crore during the first six months of this financial year (FY) as compared to Rs 250.52 crore in the corresponding period of previous year. Total consolidated income for the quarter ended on September 30, 2019 was at Rs 1,424.18 crore as against Rs 1,537.43 crore recorded during the quarter ended on September 30, 2018. Total consolidated income for the half year ended September 30, 2019 was at Rs 3,003.77 crore as compared to Rs 3,027.58 crore in the corresponding period of last year.

The consolidated disbursements during the quarter ended on September 30, 2019 was Rs 5,505 crore as compared to Rs 5,822 crore recorded in the corresponding quarter of last year.

The consolidated disbursements for the half year ended September 30, 2019 was at Rs 8,893 crore as compared to Rs 11,763 crore in the corresponding period of last year. Consolidated assets under management (AUM) for the company stood at Rs 46,500 crore as on September 30, 2019, as compared to Rs 50,892 crore a year earlier.

Commenting on the results, Hemant Kanoria, Chairman, SREI, 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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