SREI Infrastructure Finance Ltd’s net profit falls 82% to Rs 88 cr for FY20
New Delhi: SREI Infrastructure Finance Ltd’s consolidated net profit fell 82 percent to Rs 88 crore for the fiscal 2019-20 as compared to Rs 486 crore in the previous fiscal.
The total consolidated income of the company fell 8 percent to Rs 5,974 crore for the fiscal 2019-20 as compared to Rs 6,516 crore in the previous fiscal.
The total consolidated income of the company declined 12 percent to Rs 1,560 crore in the fourth quarter of the 2019-20 fiscal as compared to Rs 1, 766 core in the same quarter of pervious fiscal.
Consolidated assets under management stood at Rs 44,835 crore at the end of fiscal 2019-20 as compared to Rs 47,016 crore at he end of the previous fiscal, the company said in a statement.
The whole of lending business of Srei Infrastructure Finance Ltd has been transferred to Srei Equipment Finance Ltd in the fiscal 2091-20. The former will now will focus mostly on fee based and investment businesses.