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Srei Infrastructure Finance, reported a near 92 per cent increase in standalone net profit to Rs 16.50 crore for the quarter ending March 31, 2015. The company had reported a net profit of Rs 8.60 crore in the corresponding quarter last year.
Total income from operations, however, declined by Rs 63 crore or by over 13 per cent to approximately Rs 415 crore for the fourth quarter of FY-15. It stood at Rs 478 crore in the corresponding period last year.
For the 2014-15, net profit increased by nearly 54 per cent to Rs 91 crore (as against Rs 59 crore in the last financial year.
On a consolidated basis, net profit for the full fiscal dipped a little over seven per cent to at Rs 129 crore; as against the Rs 139 crore it reported for 2013-14.
The company has also declared a dividend of 5 per cent or 50 paise per share on equity shares having a face value of Rs 10.00 each.
Board Meeting
Meanwhile, the Kolkata-based company in a notification to the stock exchanges has stated that the Board has approved the raising of funds by way of a public issue of non-convertible debentures (NCDs) not exceeding Rs 2,500 crore, in one or more tranches during 2015-16.
The Board has also decided on seeking shareholders’ approval on issuance of non convertible debt securities on private placement basis up to a maximum aggregate amount of Rs 10,000 crore.
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