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Srei Infrastructure Finance today posted more than two-fold jump in profit at Rs 47.22 crore for the first quarter ended June 30, 2013. The company had posted consolidated net profit of Rs 17.42 crore in the same quarter of the previous fiscal.
The total income on consolidated basis rose to 3 per cent at Rs 786.67 crore as against Rs 761.68 crore in the same quarter of the previous fiscal.
Due to the concerted efforts of the management team, we have had a higher profit this quarter and we will continue our endeavour towards better results, said Srei Infrastructure Finance Chairman and Managing Director Hemant Kanoria.
The net interest margin of the company on the consolidated basis stood at 3.5 per cent, he said.
Talking about the asset quality, he said, the gross NPA of the firm was 2.81 per cent of the total advances while the net NPA was 2.35 per cent.
However, the consolidated disbursement came down by 5 per cent to Rs 3,520.54 crore during the first quarter as against Rs 3,716.95 crore in the year ago period.
The Asset under Management rose to Rs 34,483 crore at the end of June as compared to Rs 33,309 crore in the first quarter of the previous fiscal.
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