REG - SREI Inf Fin Ltd - Consolidated Financial Results - 31.12.2015 <Origin Href="QuoteRef">SREI.NS</Origin>

Srei Infrastructure FinanceAnnouncement

11/02/2016 15:20

RNS Number : 8319O
SREI Infrastructure Finance Limited
11 February 2016

SREI INFRASTRUCTURE FINANCE LIMITED

Regd Office: 'Vishwakarma', 86C, Topsia Road (South), Kolkata - 700 046, Website: www.srei.com, Email for Investors: investor.relations@srei.com

(CIN): L29219WB1985PLC055352

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2015







(Rs.inLakhs)


Quarter ended
Nine Months ended
Previous Year ended

Particulars 
31-Dec-15
30-Sep-15
31-Dec-14
31-Dec-15
31-Dec-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

1. Income 







(a) Income from Operations 
 77,355 
 83,415 
 81,532 
 238,892 
 254,722 
 328,618 

(b) Other Operating Income
 1,324 
 934 
 810 
 3,842 
 3,194 
 4,684 

 Total Income from Operations
 78,679 
 84,349 
 82,342 
 242,734 
 257,916 
 333,302 

2. Expenses







(a) Employee Benefits Expense
 3,788 
 3,889 
 3,605 
 11,271 
 10,497 
 14,429 

(b)Legal and Professional Fees 
 1,146 
 1,287 
 1,717 
 3,647 
 4,693 
 6,739 

(c)Operating and Other Expenses
 3,385 
 3,390 
 5,119 
 10,580 
 13,486 
 17,503 

(d)Bad Debts written off (net)/Provisions, Contingencies and diminutions
 5,309 
 9,203 
 6,831 
 20,345 
 26,870 
 30,983 

(e)Depreciation / Amortisation and Impairment 
 5,701 
 6,160 
 5,525 
 17,232 
 14,786 
 20,143 

 Total Expenses
 19,329 
 23,929 
 22,797 
 63,075 
 70,332 
 89,797 

3. Profit from Operations before Other Income, Finance Costs & Exceptional items (1-2)
 59,350 
 60,420 
 59,545 
 179,659 
 187,584 
 243,505 

4. Other Income
 652 
 799 
 541 
 1,596 
 1,994 
 2,730 

5. Profit from ordinary activities before Finance Costs & Exceptional items (3+4)
 60,002 
 61,219 
 60,086 
 181,255 
 189,578 
 246,235 

6. Finance Costs
 57,243 
 59,336 
 56,908 
 173,156 
 171,234 
 227,415 

7. Profit from ordinary activities after Finance Costs but before Tax & Exceptional items (5-6)
 2,759 
 1,883 
 3,178 
 8,099 
 18,344 
 18,820 

8. Exceptional Items
 - 
 - 
 3 
 - 
 100 
 24 

9. Profit from ordinary activities before Tax (7+8)
 2,759 
 1,883 
 3,181 
 8,099 
 18,444 
 18,844 

10. Tax expense
 1,223 
 1,035 
 1,130 
 3,638 
 7,497 
 6,701 

11. Income Tax in respect of earlier years
 - 
 (2)
 - 
 (2)
 2 
 3 

12. Net Profit from ordinary activities after Tax (9-10-11)
 1,536 
 850 
 2,051 
 4,463 
 10,945 
 12,140 

13. Extraordinary Items
 - 
 - 
 - 
 - 
 - 
 - 

14. Net Profit for the period/year (before adjustment for Minority Interest & profit / (loss) of Associate) (12-13)
 1,536 
 850 
 2,051 
 4,463 
 10,945 
 12,140 

15. Share of loss of Associate
 25 
 - 
 - 
 25 
 - 
 - 

16. Share of Profit / (Loss) of Minority Interest
 (205)
 (300)
 (308)
 (760)
 (619)
 (771)

17. Net Profit for the period/year after taxes, minority interest and share of loss of associates (14-15-16)
 1,716 
 1,150 
 2,359 
 5,198 
 11,564 
 12,911 

18. Paid-up Equity Share Capital (Face Value Rs. 10/- each) 
 50,324 
 50,324 
 50,324 
 50,324 
 50,324 
 50,324 

19. Reserves excluding Revaluation Reserves





 308,139 

20. Earnings per share - Basic & Diluted (Rs.) (* Not annualised)
*0.34 
*0.23 
*0.47 
*1.03 
*2.30 
 2.57 









Segment wise Revenue, Results and Capital Employed for the Quarter and Nine months ended 31st December, 2015







(Rs. in Lakhs)


Quarter ended
Nine Months ended
Previous Year ended

Particulars 
31-Dec-15
30-Sep-15
31-Dec-14
31-Dec-15
31-Dec-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

1. Segment Revenue







 (a) Financial Services
 79,277 
 84,521 
 79,546 
 243,166 
 251,151 
 325,698 

 (b) Infrastructure Equipment Services
 339 
 829 
 4,521 
 1,976 
 12,900 
 15,585 

 (c) Others
 15 
 36 
 21 
 62 
 81 
 139 

Total
 79,631 
 85,386 
 84,088 
 245,204 
 264,132 
 341,422 

Less: Inter Segment Revenue
 300 
 238 
 1,205 
 874 
 4,222 
 5,390 

Net Income from Operations
 79,331 
 85,148 
 82,883 
 244,330 
 259,910 
 336,032 

2. Segment Results







 (a) Financial Services
 3,459 
 2,547 
 2,844 
 10,298 
 15,670 
 16,186 

 (b) Infrastructure Equipment Services
 (694)
 (680)
 341 
 (2,204)
 2,775 
 2,633 

 (c) Others
 (6)
 16 
 (4)
 5 
 (1)
 25 

Total
 2,759 
 1,883 
 3,181 
 8,099 
 18,444 
 18,844 

Less: Interest & Finance Charges
 - 
 - 
 - 
 - 
 - 
 - 

 Other Un-allocable Expenditure (Net)
 - 
 - 
 - 
 - 
 - 
 - 

 Un-allocable Income
 - 
 - 
 - 
 - 
 - 
 - 

Profit Before Tax
 2,759 
 1,883 
 3,181 
 8,099 
 18,444 
 18,844 

3. Capital Employed 







 (Segment Assets-Segment Liabilities)







 (a) Financial Services
 343,961 
 345,681 
 350,475 
 343,961 
 350,475 
 348,444 

 (b) Infrastructure Equipment Services
 17,491 
 15,312 
 15,960 
 17,491 
 15,960 
 15,389 

 (c) Others
 2,277 
 2,295 
 2,288 
 2,277 
 2,288 
 2,316 

 (d) Un-allocable
 63 
 (845)
 (7,284)
 63 
 (7,284)
 (6,430)

Total
 363,792 
 362,443 
 361,439 
 363,792 
 361,439 
 359,719 








Notes:






1.
In accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has published unaudited consolidated financial results. The unaudited standalone financial results of the Company will, however, be available on the Company's website www.srei.com and on the websites of BSE (www.bseindia.com) and / or NSE (www.nseindia.com).
2.
The above unaudited consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 11th February, 2016. The Statutory Auditors of the Company have reviewed the said results.
3.
The above unaudited consolidated financial results have been prepared in accordance with the principles and procedures as set out in Accounting Standard-21 on 'Consolidated Financial Statements', Accounting Standard-23 on 'Accounting for Investments in Associates in Consolidated Financial Statements' and Accounting Standard-27 on 'Financial Reporting of Interests in Joint Ventures'.
4.
The financial results of a foreign subsidiary and it's two foreign subsidiaries have been prepared as per IFRS, generally followed in the country of their incorporation. As there are no material differences between such financial results as per IFRS and as per Indian GAAP, no adjustments have been considered necessary.
5.
Due to the fluctuation in foreign exchange rates, the applicable loss on foreign exchange transactions and translations is Rs. 548 lakhs for the quarter ended 31st December, 2015 as against loss of Rs.610 lakhs for the quarter ended 31st December, 2014 and loss of Rs. 1,782 lakhs for the nine months ended 31st December, 2015 as against loss of Rs. 1,889 lakhs for the nine months ended 31st December, 2014, charged under "Finance Costs".
6.
Company's standalone financial information (Rs. in Lakhs) is as below: 


Quarter ended
Nine Months ended
Previous Year ended

Particulars 
31-Dec-15
30-Sep-15
31-Dec-14
31-Dec-15
31-Dec-14
31-Mar-15


(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Unaudited) 
(Audited) 

Turnover
 44,438 
 50,596 
 45,265 
 142,662 
 148,403 
 190,003 

Profit Before Tax
 1,718 
 1,179 
 2,385 
 6,209 
 10,916 
 11,952 

Profit After Tax
 1,188 
 815 
 1,627 
 4,294 
 7,448 
 9,093 








7.
Figures pertaining to the previous year/period have been rearranged/regrouped, wherever considered necessary, to make them comparable with those of the current period.
For and on behalf of the Board of Directors
Chairman and Managing Director

Place: Kolkata 







Date: 11th February, 2016














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