Kolkata, October 26, 2017: Srei Infrastructure Finance Limited ("Srei"), one of India's largest holistic infrastructure institutions, has reported a consolidated profit after tax ("PAT") of Rs 162.43 crore during the half year ended September 30, 2017 as compared to Rs 113.44 crore during the corresponding period of last year, a growth of 43%.
The company's consolidated profit after tax during the quarter ending September 30, 2017 was Rs 86.11 crore as compared to Rs 61.87 crore in the corresponding quarter of previous year, a growth of 39%.
The consolidated disbursement for half year ended September 30, 2017 has been Rs.10,416 crore against Rs 7,290 crore for the corresponding period of last year. The consolidated disbursement for the quarter ended September 30, 2017 was Rs. 6,010 crore against Rs. 3,498 crore in the corresponding quarter of last year.
The standalone PAT was Rs 59.05 crore for the half year ended September 30, 2017 as compared to Rs 49.11 crore in the corresponding period of last year.
Total consolidated income for the half year ended September 30, 2017 was Rs 2,448.85 crore as against Rs 2,220.78 crore recorded during for the half year ended September 30, 2016.
Total consolidated income for the quarter ended September 30, 2017 was Rs 1,257.53 crore as against Rs 1,106.65 crore recorded during the quarter ended September 30, 2016.
Consolidated assets under management ("AUM") stood at Rs 43,125 crore as on September 30, 2017 as compared to Rs 36,513 crore a year earlier.
Commenting on the results, Hemant Kanoria, Chairman and Managing Director, Srei, said: "Our journey towards our objective of shareholder value enhancement through business growth, profit growth, improvement in asset quality and harvesting of strategic investment portfolio is on track. In the second quarter, we have also completed the initial public offer ("IPO") of Bharat Road Network Limited ("BRNL") successfully. We have announced plans to list Srei Equipment Finance Limited, which we are targeting to complete within this financial year. We hope to continue meeting our targets as envisaged."
Consolidated financials at a glance:
|
|
Quarter Ended
|
|
Half Year Ended
|
|
||
|
|
In Rs crore
|
In Rs crore
|
||||
|
Particulars
|
30.09.17
|
30.09.16
|
Growth
%
|
30.09.17
|
30.09.16
|
Growth
%
|
|
AUM
|
43,125
|
36,513
|
18
|
43,125
|
36,513
|
18
|
|
Disbursements
|
6,010
|
3,498
|
72
|
10,416
|
7,290
|
43
|
|
Total Income
|
1,257.53
|
1,106.65
|
14
|
2448.85
|
2,220.78
|
10
|
|
PBT
|
137.12
|
91.06
|
51
|
253.95
|
162.62
|
56
|
|
PAT
|
86.11
|
61.87
|
39
|
162.43
|
113.44
|
43
|
Srei's Businesses:
Srei Infrastructure Project Finance Business recorded a disbursement of Rs 2,107 crore during the half year ended September 30, 2017 as compared to Rs 1,935 crore disbursed during the corresponding period of last financial year. The portfolio size stood at Rs 13,243 crore as on September 30, 2017 as compared to Rs 12,616 crore a year earlier. The Project Finance team made disbursements to diverse set of infrastructure sectors while continuing to focus on infrastructure sub-sectors like renewable energy (wind and small-hydro), road, port, thermal power, hospitality, SEZs and industrial parks, etc.
Srei Equipment Finance Limited, an industry leader in construction and mining equipment financing*, has disbursed Rs 8,309 crore during the half year ended September 30, 2017 as compared to Rs 5,354 crore in the corresponding period of previous year. PAT grew by 59% to Rs 109.51 crore for the half year ended September 30, 2017 as compared to Rs 68.83 crore in the corresponding period of previous year. Gross NPA reduced from 2.62% as on September 30, 2016 to 2.08% as on September 30, 2017. Net NPA reduced from 1.80% as on September 30, 2016 to 1.47% as on September 30, 2017. Total AUM stood at Rs 26,660 crore as on September 30, 2017 as compared to Rs 20,216 crore a year earlier.
*As per 'NBFC Report' by CRISIL Research (October, 2016), and, report titled 'Evaluating the Emerging Demand for Construction Equipment in India by 2024-25: Demand Growth to Surprise all?' by InfraInsights Consulting (August, 2017).
About Srei:
Srei is one of India's largest holistic infrastructure institutions, constantly and consistently delivering innovative solutions in the infrastructure sector. The company has been playing a significant role in nation-building for over two-and-a-half decades, both in urban and rural India. Srei's businesses include Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Markets and Insurance Broking. Srei is headquartered in Kolkata and has presence across India.