Srei Q1 net more than doubles to Rs 51 crore
Srei Infrastructure Finance Ltd's consolidated net profit more than doubled to Rs 51.57 crore during the April-June quarter (Q1) compared to a net profit of Rs 23.32 crore posted during the same quarter last year. Total consolidated income during the quarter stood at Rs 1,114.13 crore as against Rs 798.51 crore in the year ago period. Consolidated assets under management (AUM) stood at Rs 35,478 crore as on June 30. "The consolidation of 100 per cent shareholding in Srei Equipment Finance Ltd has led to substantial jump in our shareholder value," said, Hemant Kanoria, Chairman and Managing Director, Srei Infrastructure Finance Ltd. He further added, "We are well positioned to leverage growth opportunities in the coming quarters. We will continue to unlock value creation opportunities in our strategic investment portfolio, while bringing cost discipline, NPA recovery and operational excellence to our businesses."