Shares of SREI Infrastructure Finance surged almost 10% after the company released its June quarter scorecard which showed a significant rise in the company’s profit on a quarter-on-quarter (QoQ) basis.
The company reported a consolidated profit after tax of Rs 23.01 crore during the quarter ended June 30, 2020, as compared to a loss of Rs 69.29 crore during the quarter ended March 31, 2020.
Total consolidated income for the June quarter was at Rs 1,214.45 crore against Rs 1,560.87 crore recorded during the March quarter.
Consolidated assets under management (AUM) stood at Rs 44,213 crore as on June 30, 2020, as compared to Rs 44,835 crore as on March 31, 2020.
As a part of strategy, SREI Infra plans to alleviate pains of its customers, manage liquidity and focus on the core business of equipment finance, while improving efficiency and rationalising cost.
Recently, the company raised funds from KfW IPEX-Bank of Germany, demonstrating its ability to raise resources from reputed international investors and global development finance institutions. It will continue to explore opportunities that will help sustain business growth and create value for its our stakeholders.
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