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This is an archive article published on May 19, 2011
Srei consolidated FY11 net up 15%
Srei Infrastructure Finance Ltd reported a net profit of Rs 179 crore on a consolidated basis,up by 15 per cent over the previous year.
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Srei Infrastructure Finance Ltd today reported a net profit of Rs 179 crore on a consolidated basis,up by 15 per cent over the previous year.
Disbursements grew by 60 per cent to Rs 14,400 crore during the year. Additional provisioning of Rs 20 crore during the quarter on standard assets had put some impact on the net profit, Chairman and Managing Director Hemant Kanoria said here.
Srei net profit on standalone basis grew by 20 per cent to Rs 134.30 crore for the year 2010-11.
He said the infrastructure finance company aims for a disbursement of Rs 25,000 crore on a consolidated basis.
We are looking at disbursement of Rs 14,000-15,000 crore in equipment financing and Rs 7,000-8,000 crore in project financing, Srei Vice-Chairman Sunil Kanoria said.
He said Quippo Oil and Gas which had got an oil & gas block in Cambay,Gujarat was expecting to receive state government approval within the year to begin drilling 15 oil wells for exploration.
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