Srei reports consolidated PAT of Rs 23.01 crore in Q1 FY21
Srei Infrastructure Finance Limited
("Srei") has reported a consolidated profit after tax
("PAT") of Rs 23.01
crore during the quarter ended June 30, 2020 as compared to Rs (69.29) crore during
the quarter ended March 31, 2020.
Total consolidated income for the
quarter ended June 30, 2020 was at Rs 1,214.45
crore as against Rs 1,560.87
crore recorded during the quarter ended March 31, 2020.
Consolidated assets under management
("AUM") stood at Rs 44,213
crore as on June 30, 2020 as compared to Rs 44,835 crore as on March 31, 2020.
Commenting on the financial results, Mr.
Hemant Kanoria, Chairman, Srei, said: "The continuing
spate of the pandemic has disrupted businesses and dislocated people. It was
expected that the normalcy will resume by August, however, now it seems that
this spell will go on till December, for sure. It is an undeniable fact that
the economy has been severely affected, specially the MSMEs and the
infrastructure sector. The Reserve Bank of India ("RBI") and the
government have been working out many solutions, but it will definitely take
time for any of them to have the desired effect. It is, therefore, difficult to
project any future plans with certainty. The strategy of our company, at
present, is to alleviate pains of our customers, manage liquidity and focus on
the core business of equipment finance, while improving efficiency and
rationalising cost.
Consolidated
financials at a glance:
Quarter Ended
|
|||
In Rs Crore
|
|||
Particulars
|
30.06.2020
|
31.03.2020
|
Change %
|
AUM
|
44,213
|
44,835
|
(1)
|
Total Income
|
1,214.45
|
1,560.87
|
(22)
|
PBT
|
34.86
|
(107.42)
|
132
|
PAT
|
23.01
|
(69.29)
|
133
|
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