Srei Infrastructure Finance Limited today reported a sharp rise in standalone net profit of Rs 20.72 crore for the Q4 period ending March 31, 17' on the back of lower finance cost, up by 43 per cent over the corresponding quarter profit of Rs 14.46 crore.
Income from operations was lower at Rs 446.40 crore during the quarter against Rs 456.67 crore in the previous same period operational income, the company said.
The finance cost during the quarter was Rs 369.6 crore, down from Rs 403 crore in the corresponding period.
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The bad debt provision/ write-off during the quarter under review was up at Rs 200 crore against Rs 5 crore in the comparable period.
Meanwhile, on consolidated basis Srei net was up at Rs 62.71 crore in the March 17' quarter compared to Rs 20.54 crore net in the same period last year.
Consolidated assets under management (AUM) stood at Rs 37,683 crore at the end of March as compared to Rs 36,735 crore in FY16', the company 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," Srei chairman Hemant Kanoria said.
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