consolidated profit after tax ("PAT") of Rs 88.75 crore during the financial year
ended March 31, 2020 as compared to Rs 486.78 crore in the previous year." />
Thursday, Apr 18 2024 | Time 23:11 Hrs(IST)
image
Business EconomyPosted at: Jul 28 2020 10:00PM


Srei reports consolidated PAT of Rs 88.75 crore in FY20

Kolkata, Jul 28 (UNI) Srei Infrastructure Finance Limited ("Srei") has reported a
consolidated profit after tax ("PAT") of Rs 88.75 crore during the financial year
ended March 31, 2020 as compared to Rs 486.78 crore in the previous year.
Total consolidated income for the year ended March 31, 2020 was at Rs 5,974.44
crore as against Rs 6,516.87 crore in the previous year.
Total consolidated income
for the quarter ended March 31, 2020 was at Rs 1,560.87 crore as compared to Rs
1,766.77 core in the corresponding quarter of pervious year.
Consolidated assets under management ("AUM") stood at Rs 44,835 crore at the end
of March 31, 2020 as compared to Rs 47,016 crore as on March 31, 2019.
The entire lending business of Srei Infrastructure Finance Limited has been
transferred to Srei Equipment Finance Limited within this financial year and Srei
Infrastructure Finance Limited will focus primarily on fee-based and investment
businesses.
This has been reflected in the financial results accordingly.
Commenting on the results, Hemant Kanoria, Chairman, Srei, said: "This has
been one of the toughest years in the last three decades of our existence. The
headwinds, which started with the debacle of IL&FS beginning from October 2018
causing limitations in raising resources for NBFCs, have got compounded with the
massive natural calamity and pandemic COVID-19 and cyclone Amphan. "
" Especially
for companies who have been extending loans to borrowers in the MSME segment
and in infrastructure areas, the cash flows of their clients have been severely
constricted. We have also made substantial provisions in view of the market
conditions. "
" We have been able to manage our liquidity judiciously and we are hopeful that with
the evolving guidelines of the government towards addressing the borrowers'
problems we would continue to manage our liabilities accordingly. The ensuing year
will be interesting and we hope to manage the turbulence in the present
environment with resilience and flexibility. "
UNI SJC AKM
Please log in to get detailed story.
Tags: #Srei reports consolidated PAT of Rs 88.75 crore in FY20
More News

Bajaj Auto net profit at Rs 1936 cr in Q4; clocks all-time high revenue in FY24

18 Apr 2024 | 6:46 PM

New Delhi, Apr 18 (UNI) Two wheeler auto major Bajaj Auto on Thursday announced 29 percent jump in its revenue in Q4 (January-March) at 11,485 crore, led by the broad based buoyancy that was sustained on the domestic business and aided by steady exports.

see more..

Entering share market can boost growth of SMEs: Infopark event

18 Apr 2024 | 6:31 PM

Kochi, Apr 18 (UNI) Small and marginal companies in Kerala enjoy immense scope for growth by entering the stock market, experts said at an Infopark-organised event here on Thursday.

see more..

18 Apr 2024 | 6:09 PM

New Delhi, Apr 18 (UNI) Angle One, a retail stock broking house in India, today announced 31 per cent jump in net profit at Rs 340 crore during Q4 of the last financial year over Rs 260.3 crore in the previous quarter.

see more..

Microsoft and ByteXL join hands to Present HackXcelerate 2024 at CBIT in Hyderabad

18 Apr 2024 | 5:57 PM

Hyderabad, Apr 18 (UNI) Microsoft, a global technology leader, has joined hands with ByteXL, a pioneering EdTech platform, to present HackXcelerate 2024, a nationwide hackathon aimed at igniting creativity and enhancing problem-solving skills among students.

see more..

Honda Motorcycle & Scooter India inaugurates new Engine Assembly Line for CKD exports

18 Apr 2024 | 5:46 PM

Gurugram, Apr 18 (UNI) Honda Motorcycle & Scooter India (HMSI), one of the country’s leading two-wheeler manufacturers, has announced a significant milestone in its journey.

see more..
image