Srei reported consolidated PAT of Rs 243.36 crore in FY 17 vs Rs 72.52 crore in FY 16
Kolkata, May 9, 2017: Srei Infrastructure Finance Limited ("Srei"), one of India's largest holistic infrastructure institutions, has reported a consolidated profit after tax of Rs 243.36 crore during the financial year ending March 31, 2017 as compared to Rs72.52 crore in the previous year. The standalone profit after tax was Rs 96.07 crore in 2016-17 as compared to Rs 57.40 crore in the previous year.
The company's consolidated profit after tax during the quarter ending March 31, 2017 was Rs 62.71 crore as compared to Rs 20.54 crore in the corresponding quarter of previous year.
Total consolidated income for the year ending March 31, 2017 was Rs 4,665.76 crore as against Rs 3,261.94 crore in the previous year.
Consolidated assets under management (AUM) stood at Rs 37,683 crore at the end of March 31, 2017 as compared to Rs 36,735 crore as on March 31, 2016. Consolidated disbursements during the year ending March 31, 2017 were Rs 17,604 crore as compared to Rs 14,533 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, 2017 and recommended a dividend of 5% to the shareholders.
Commenting on the results, Hemant Kanoria, Chairman and Managing Director, said: "FY17 has been a year of growth in business, profit and all other parameters. We have been resilient to the uncertain macro-economic environment, bringing operational excellence in our businesses and maintaining leadership position in infrastructure and equipment financing space.
We have successfully supported our customers to react and adapt to the changes in the environment offering them a holistic bouquet of products and services, tailor-made to suit their needs. In close cooperation with our customers, we have made significant progress in recovering non-performing assets leading to a substantial reduction in NPA ratios.
Our journey over the past 28 years has seen us adapt ourselves to changes and deal with challenges. Going forward, we will continue to explore opportunities across the length, breadth and width of the infrastructure sector, unlocking value for all our stakeholders. Our leadership position, wide network and close customer relationships make us confident about future opportunities in the infrastructure space."
Consolidated Financials At A Glance:
| Quarter Ended |
| Twelve Months Ended |
| ||
| In Rs crore | In Rs crore | ||||
Particulars | 31.03.17 | 31.03.16 | Growth % | 31.03.17 | 31.03.16 | Growth % |
AUM | 37,683 | 36,735 | 3 | 37,683 | 36,735 | 3 |
Disbursements | 5,502 | 3,993 | 38 | 17,604 | 14,533 | 21 |
Total Income | 1,310.41 | 818.64 | 60 | 4665.76 | 3261.94 | 43 |
PBT | 98.85 | 24.95 | 296 | 360.09 | 105.94 | 240 |
PAT | 62.71 | 20.54 | 205 | 243.36 | 72.52 | 236 |
Srei's Businesses:
Srei Infrastructure Finance Business recorded a disbursement of Rs 1,964 crore during the quarter ended March 31, 2017 as compared to Rs 1,446 crore disbursed during the corresponding quarter of previous year. The portfolio size stood at Rs 12,387 crore as on March 31, 2017 as compared to Rs 13,443 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 Infrastructure Project Development Business is a leading sponsor of Public Private Partnership Projects (PPP) Business in the infrastructure sector with presence across roads, ports, economic zones and water management.
Srei Equipment Finance Limited, industry leader in infrastructure and construction equipment financing, has disbursed Rs 11,715 crore for the year ended March 31, 2017 as compared to Rs 9,158 crore during the corresponding previous year; registering a growth of 28%. PBT grew by 35% to Rs 216.42 crore for the year ended March 31, 2017 as compared to Rs 160.43 crore for the year ended March 31, 2016; while PAT, grew by 29% to Rs 148.84 crore for the year ended March 31, 2017, compared to Rs 115.26 crore during the corresponding previous year.
Gross NPA reduced from 2.80% as at March 31, 2016 to 2.38% as on March 31, 2017; while Net NPA reduced from 1.90% as at March 31, 2016 to 1.70% in March 31, 2017. Total AUM stood at Rs 21,623 crore as on March 31, 2017 as compared to Rs 19,138 crore as on March 31, 2016.
The Government of Jharkhand has planned 100% coverage of pipe water supply schemes in rural areas. Srei Advisory has been appointed as consultant for preparation of pre-feasibility reports, detailed project reports and tender documents for full coverage of drinking water to rural population in two packages viz., Ramgarh and Hazaribagh.
The Advisory Business has also secured two new PMC mandates from Sewerage & Infrastructural Development Corporation of Goa for implementation of Sewerage System at Porvorim additional sewerage area and trunk main sewer in Bardez Taluk in Goa.
