Kolkata, April 28, 2018: Srei Infrastructure Finance Limited ("Srei"), one of India's largest holistic infrastructure institutions, reported a consolidated profit after tax ("PAT") of Rs 384.55 crore during the financial year ended March 31, 2018 as compared to Rs 243.36 crore in the previous year, registering a growth of 58%. The standalone PAT was at Rs 123.47 crore in 2017-18 as compared to Rs 96.07 crore in the previous year.
The company's consolidated PAT during the quarter ended March 31, 2018 was Rs 116.98 crore as compared to Rs 62.71 crore in the corresponding quarter of previous year, registering a growth of 87%.
Total consolidated income for the year ended March 31, 2018 was at Rs 5,261.87 crore as against Rs 4,665.76 crore in the previous year.
Consolidated assets under management ("AUM") stood at Rs 47,050 crore at the end of March 31, 2018 as compared to Rs 37,683 crore as on March 31, 2017. Consolidated disbursements during 2017-18 were at Rs 22,726 crore as compared to Rs 17,604 crore in the previous year.
The Board of Directors at its meeting here today approved the company's audited financial accounts for the year ended March 31, 2018 and recommended a dividend of 5% to the shareholders.
Commenting on the results, Mr. Hemant Kanoria, Chairman and Managing Director, Srei, said: "Year 2017-18 was indeed a transformational year for Srei. After three years of downturn and stress in the infrastructure sector leading to higher NPAs (non-performing assets) and lower profits, this year we have had steep decline in NPAs and also double digit growth in profit. We feel that in the current financial year we will be in a position to grow our disbursements substantially, which will result in higher profit compared to the last year. We have also been able to dilute our stake in some of our investments and will continue to do so this year too. We are very optimistic about the business opportunities for the company and we will continue our journey towards value creation for our investors."
Consolidated Financials At A Glance:
|
|
Quarter Ended
|
|
Twelve Months Ended
|
|
||
|
|
In Rs crore
|
In Rs crore
|
||||
|
Particulars
|
31.03.18
|
31.03.17
|
Growth
%
|
31.03.18
|
31.03.17
|
Growth
%
|
|
AUM
|
47,050
|
37,683
|
25
|
47,050
|
37,683
|
25
|
|
Disbursements
|
6,579
|
5,502
|
20
|
22,726
|
17,604
|
29
|
|
Total Income
|
1,401.07
|
1,310.41
|
7
|
5,261.87
|
4,665.76
|
13
|
|
PBT
|
176.11
|
98.85
|
78
|
591.89
|
360.09
|
64
|
|
PAT
|
116.98
|
62.71
|
87
|
384.55
|
243.36
|
58
|
Srei's Businesses:
Srei Infrastructure Finance Business recorded disbursements of Rs 2,202 crore during the quarter ended March 31, 2018 as compared to Rs 1,964 crore disbursed during the corresponding quarter of previous year. The portfolio size stood at Rs 13,618 crore as on March 31, 2018 as compared to Rs 12,387 crore a year earlier. The infrastructure finance team made disbursements to a 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 the construction, mining and allied equipment ("CME") finance space*, has reported a Profit after tax ("PAT") of Rs 263.49 crore for the year ended March 31, 2018 as compared to Rs 148.84 crore in the previous year. The PAT for the six month period ended March 31, 2018 improved to Rs. 153.98 crore as compared to Rs. 80.01 crore in the corresponding period of previous year. The company reported Earnings per share (“EPS”) of Rs 44.17 for the year ended March 31, 2018 as compared to Rs 24.95 for the previous year. The balance sheet size has grown to Rs 24,501.64 crore as on March 31, 2018 as compared to Rs 17,230.20 crore as on March 31, 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 nearly three 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.