Business

Srei announces a profit of Rs 313 crore in the March quarter

Srei Equipment Finance Limited (SEFL), a Kolkata-based infrastructure financing company, has continued its good run for the second consecutive quarter. The company has reported a consolidated profit of Rs 313 crore before tax in the quarter ended March 31, 2022, after registering a profit of Rs 71.1 crore in the last quarter— quarter ending December 31, 2021. The results of these two quarters are a marked improvement over the results of the quarter ending March 2021, when SEFL reported a loss of Rs 3391.32 crore. Even the profit after tax of the infrastructure financing company has stayed in the positive territory for the past two quarters.

The substantial profits earned in the past two quarters by SEFL is a reflection of the robust fundamentals of the company. “The fact that the organisation is able to thrive under the Insolvency and Bankruptcy (IBC) Act is a credit to its underlying assets, professional management and the able guidance of the administrator,” said a senior Srei official.

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