Business EconomyPosted at: Sep 14 2020 8:40PM

Srei Q1 FY21 PAT down

Hyderabad, Sept 14 (UNI) Srei Infrastructure Finance Limited (Srei) on Monday reported a consolidated Profit After Tax (PAT) of Rs 23.01 crore during the quarter ended June 30, 2020 as compared to Rs 69.29 crore during the quarter ended March 31, 2020.
Total consolidated income for the quarter ended was at Rs 1,214.45 crore as against Rs 1,560.87 crore recorded during the quarter ended March 31, 2020, the company said in a release.
Consolidated assets under management (AUM) stood at Rs 44,213 crore as on June 30, 2020 as compared to Rs 44,835 crore as on March 31, 2020.
Commenting on the financial results, Srei Chairman Mr. Hemant Kanoria, said: "The continuing spate of the pandemic has disrupted businesses and dislocated people. It was expected that the normalcy would resume by August.
It is very difficult to project any future plans with certainty at this juncture and the strategy of our company, at present, is to alleviate pains of our customers, manage liquidity and focus on the core business of equipment finance, while improving efficiency and rationalising cost.
We have recently raised funds from KfW IPEX-Bank of Germany, demonstrating our ability to raise resources from reputed international investors and global development finance institutions, he added.
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Srei Q1 FY21 PAT down

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