Srei consolidated Q2 net up 438% to Rs 62 cr

Srei Infrastructure Finance Limited (Srei) today reported a four-fold jump in consolidated net profit to Rs 61.87 crore for the Q2 period ended September 2016, compared to corresponding period profit of Rs 11.50, on the back of higher income from operations.
Income from operations for the quarter under review on consolidated basis was Rs 1093.68 crore compared to Rs 834.15 crore in the same period of 2015-16.
"The infrastructure equipment industry in India is on the road to recovery. The industry is expected to grow at 25-30 per cent during the current financial year and reach US USD 10 billion mark by 2020," Srei chairman Hemant Kanoria said.

"Our initiatives remain towards unlocking value of our strategic investment portfolio," he added.
On the standalone basis also Srei net jumped three fold for the quarter ended September 2016 to Rs 23 crore against Rs 8.15 crore profit in the corresponding quarter last year.