Srei Q3 net jumps 140 percent

Last Updated: Thu, Feb 14, 2013 16:10 hrs

Kolkata, Feb 14 (IANS) Kolkata-based Srei Infrastructure Finance Ltd Thursday reported a 140 percent jump in its consolidated net profit to Rs.46.50 crore during the quarter ended Dec 31, 2012 as compared to Rs.19.40 crore during the same quarter previous year.

The profit before tax for the third quarter stood at Rs.73.39 crore as compared to Rs.42.87 crore during the corresponding period last fiscal.

Total income of the company for the period under review was Rs.775.33 crore as against Rs.692.96 crore during the same period a year ago, posting an increase of 12 percent.

Chairman and managing director Hemant Kanoria said: "In spite of the stressed environment in the infrastructure sector, the company is able to better manage its portfolio.

With RBI having already effected a cut in interest rates and further rate cuts expected over the next few quarters, Srei is well positioned to reap the benefit of the expected economic upturn."

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