The Hindu Business Line : Srei Q4 net up 56%, to pay 16.5%

Srei Infrastructure Finance Ltd, for the quarter ended March 31, 2006, has recorded a 56 per cent growth in profit after tax at Rs 15.94 crore (Rs 10.20 crore).

The company also plans to soon operationalise a Rs 500-crore Prithvi Fund, essentially to lend equity support to infrastructure companies.

The company has already received the necessary approvals.

Income from operations as on March 31, 2006, was Rs 227.25 crore (Rs 129.93 crore). Total income for the fourth quarter, despite hardening of interest rates, was up at Rs 77.15 crore (Rs 34.35 crore).

For 2005-06, it has achieved a 71 per cent increase in PAT at Rs 48.42 crore (Rs 28.30 crore).

The board which met here today to take the results on record has recommended a dividend of Rs 1.65 per share (16.5 per cent), up from the Rs 1.50 per share paid last fiscal.

Briefing newspersons here today on the annual and fourth quarter results for 2005-06, Mr Hemant Kanoria, Vice-Chairman and Managing Director, Srei Infrastructure, said disbursements during 2005-06 have increased to Rs 2,500 crore, up from the Rs 1,600 crore recorded in 2004-05, a growth of 56.25 per cent.

He put the total assets under Srei management as on March 31, 2006 at Rs 3,393 crore. He put the company's current net worth at Rs 410 crore.

Expecting to maintain a growth of 40 per cent in disbursals, Mr Kanoria said besides more services on the financing side, including advisory services, Srei has also planned to launch more new instruments.

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