Srei Infrastructure standalone Q4 net up 43% at Rs 21 crore

Kolkata: Srei Infrastructure Finance on Tuesday reported a 43.29 % rise in standalone net profit of Rs 20.72 crore for the fourth-quarter (Q4) ending March 31, 2017, compared to Rs 14.46 crore profit in the corresponding previous quarter.

Income from operations, however, was lower at Rs 446.40 crore in the said quarter as against Rs 456.67 crore in the corresponding period previous fiscal. Finance cost at Rs 369.63 crore, in the quarter under review was lower compared to Rs 403.53 crore in the corresponding previous period.

The bad debt provision/write-off during the quarter under review was up at Rs 200.73 crore as against Rs 5 crore in the comparable period previous fiscal.

The board of directors have recommended a dividend of Re 0.50 per share of face value of Rs 10 for the FY 2016-17.

On a consolidated basis, the company reported a net profit of Rs 62.71 crore in the said quarter against Rs 20.54 crore net in the same period last year. Consolidated assets under management (AUM) stood at Rs 37,683 crore at the end of March 2017 compared to Rs 36,735 crore as on March 2016, a company release stated.

Elaborating on the company's performance, Srei Infrastructure chairman & MD Hemant Kanoria said: "FY17 has been a year of growth in business, profit and all other parameters. We have been resilient to the uncertain macro-economic environment."