Kolkata - Srei Infrastructure Finance Ltd, an infrastructure and construction equipment financing non-banking finance company (NBFC), Friday reported a 51.78 percent decline in its consolidated net profit for the quarter ended December 2011 at Rs.194 million from Rs.402 million in the same period in 2010.
According to a release, the Kolkata-headquartered company registered the sharp fall in its net profit as a result of sharp depreciation of Indian rupee against the US dollar.
"Profit for the quarter ended Dec 31, 2011 has been adversely impacted due to the sharp depreciation of Indian Rupee against US Dollar, resulting in a notional forex (foreign exchange) loss of Rs.71.06 crore (Rs.710 million)," the company said in the release.
The consolidated income for the period under review stood at Rs.6.87 billion compared to Rs.3.27 billion during the corresponding period a year ago.
Operating and other expenses in the third quarter increased to Rs.519.6 million from Rs.118.8 million during the same period last fiscal.
Interest and finance charges during the quarter rose to Rs.5.02 billion from Rs.1.96 billion a year ago.
The consolidated operating profit for the quarter was Rs.869.2 million compared to Rs.905.7 million in the corresponding period of the previous year.
| Other Articles: |
 |
Tibet wetlands boost tourism potential (4th Feb, 2012) |
|
Sistema to contest Supreme Court verdict on 2G licence (4th Feb, 2012) |
|
Push key reforms: Industry's budget wish list (4th Feb, 2012) |
|
Apple starts China online sale of iPhone 4S (4th Feb, 2012) |
|
Facebook IPO boosts growth of Chinese sites (4th Feb, 2012) |
|
Maruti plans to roll out SUVs and MPVs (4th Feb, 2012) |
|
Rupee climbs to 3-month high of 48.68 against dollar (4th Feb, 2012) |
|
TRAI seeks initial response on 2G spectrum auction by Feb 15 (4th Feb, 2012) |
|
Shanghai to raise sea burial subsidy (3rd Feb, 2012) |
|
Infosys swaps global business heads (3rd Feb, 2012) |
|
Telenor won't quit India, Norway monitoring situation (3rd Feb, 2012) |
|
Sensex soars past 17,600 points; registers 5th weekly gain (3rd Feb, 2012) |
|
Air India enquiry into charges against Patel ruled out (3rd Feb, 2012) |
|
Gold gained by Rs. 110 to Rs 28,640 per 10 grams. (3rd Feb, 2012) |
|
Networks hope to acquire more users, spectrum (3rd Feb, 2012) |
|
Fiat profit more than doubled in fourth quarter (3rd Feb, 2012) |
|
Facebook under pressure to sell users' data, adverts to meet IPO profitability expectations (3rd Feb, 2012) |
|
Facebook graffiti artist in line for $200m payday as stock option payout following IPO (3rd Feb, 2012) |
|
Manmohan Singh expects financial growth at 7 to 7.5 percent (3rd Feb, 2012) |
|
Japan's Panasonic projects wider loss for current fiscal (3rd Feb, 2012) |
|
Sensex witnesses choppy trade, Bharti Airtel rises (3rd Feb, 2012) |
|
New Iran sanctions not to disrupt oil markets: US (3rd Feb, 2012) |
|
Kerala coir products gain market share in Africa, Latin America (3rd Feb, 2012) |
|
Guard against crisis contagion, IMF tells Latin America (3rd Feb, 2012) |
|
Indian economy will grow 7-7.5 percent in 2011-12: PM (3rd Feb, 2012) |
Today : Thursday - May 24, 2012, 02:23pm (GMT+5.5)
