Q4FY19 Results: Srei posts 29 pct consolidated growth in FY2019, reports PAT of Rs 487.78 Crore
Srei has reported a consolidated PAT of Rs 486.78 crore during the financial year ended March 31, 2019 as compared to Rs 377.29 crore in the previous year.
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Srei Equipment Finance, Bank of Baroda to co-lend through iQuippo platformSrei Infrastructure Finance Limited aka "Srei", one of India's largest holistic infrastructure institutions, has reported a consolidated PAT (profit after tax) of Rs 486.78 crore during the financial year ended March 31, 2019 as compared to Rs 377.29 crore in the previous year, registering a growth of 29 per cent. The standalone PAT was at Rs 94.67 crore in 2018-19 as compared to Rs 90.42 crore a year earlier.
Commenting on the results, Hemant Kanoria, Chairman at Srei said, "In 2018-19, post the initial strong first half growth, in the second half the focus was to remain sufficiently liquid, maintain superior quality of assets and grow cautiously amidst challenging macro-economic environment. Going forward, our outlook on the economy continues to remain positive. Political parties in their election manifestos have given ample thrust on development and it is apparent that infrastructure will continue to remain a focus area for the new government, irrespective of whichever party comes to power," adding, "On the business front, we will continue to strengthen our existing client relationships, focus on co-lending arrangements with banks and aim at growth in the equipment finance sector. With Srei celebrating 30 years of its journey in 2019-20, the three decades of experience have made our organisation fundamentally sturdy, agile and ready for implementing new technologies in business, while remaining financially prudent."
The company's consolidated PAT during the quarter ended March 31, 2019 was at Rs 144.85 crore as compared to Rs 107.36 crore in the corresponding quarter of the previous year, registering a growth of 35 per cent. Total consolidated income for the year ended March 31, 2019 was at Rs 6,469.70 crore as against Rs 5,399.98 crore in the previous year.
Consolidated assets under management ("AUM") stood at Rs 47,070 crore at the end of March 31, 2019 as compared to Rs 47,480 crore as on March 31, 2018. Consolidated disbursements during 2018-19 were at Rs 21,229 crore as compared to Rs 22,726 crore in the previous year.
