REG - SREI Inf Fin Ltd - Unaudited Consolidated Financial Result-30.06.2014 <Origin Href="QuoteRef">SREI.NS</Origin>

Srei Infrastructure FinanceAnnouncement

29/10/2014 09:40

RNS Number : 1034O
SREI Infrastructure Finance Limited
02 August 2014

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 ENDED 30TH JUNE, 2014

Part I



(Rs. in Lakh)


Quarter ended
Year ended

Particulars 
30-Jun-14
31-Mar-14
30-Jun-13
31-Mar-14


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

1. Income 





(a) Income from Operations 
92,307 
82,566 
77,275 
319,127 

(b) Other Operating Income
 1,284 
 1,591 
 999 
 4,192 

 Total Income from Operations
 93,591 
 84,157 
 78,274 
 323,319 

2. Expenses





(a) Employee Benefits Expense
 3,430 
 3,392 
 3,273 
 12,944 

(b)Legal and Professional Fees 
 1,917 
 2,243 
 1,250 
 6,777 

(c)Operating and Other Expenses
 5,065 
 3,758 
 3,942 
 15,628 

(d)Bad Debts / Advances written off
 2,375 
 9,071 
 1,334 
 13,308 

(e)Provisions and Contingencies
 9,856 
 (548)
 522 
 3,454 

(f)Depreciation / Amortisation and Impairment 
 4,546 
 4,553 
 3,845 
 16,335 

 Total Expenses
 27,189 
 22,469 
 14,166 
 68,446 

3. Profit from Operations before Other Income, Finance Costs & Exceptional items (1-2)
 66,402 
 61,688 
 64,108 
 254,873 

4. Other Income
 673 
 740 
 393 
 2,711 

5. Profit from ordinary activities before Finance Costs & Exceptional items (3+4)
 67,075 
 62,428 
 64,501 
 257,584 

6. Finance Costs
57,349 
61,507 
56,478 
235,028 

7. Profit from ordinary activities after Finance Costs but before Tax & Exceptional items (5-6)
 9,726 
 921 
 8,023 
 22,556 

8. Exceptional Items
 - 
 - 
 - 
 6 

9. Profit from ordinary activities before Tax (7+8)
 9,726 
 921 
 8,023 
 22,562 

10. Current tax expense
 3,501 
 551 
 3,313 
 8,791 

11. Income Tax in respect of earlier years
 2 
 21 
 - 
 20 

12. Net Profit from ordinary activities after Tax (9-10-11)
 6,223 
 349 
 4,710 
 13,751 

13. Extraordinary Items
 - 
 - 
 - 
 - 

14. Net Profit for the period/year (before adjustment for Minority Interest & profit / (loss) of Associate) (12-13)
 6,223 
 349 
 4,710 
 13,751 

15. Share of loss of Associate
 - 
 - 
 - 
 - 

16. Share of Profit / (Loss) of Minority Interest
 (175)
 (26)
 (12)
 (100)

17. Net Profit after taxes (14-15-16)
 6,398 
 375 
 4,722 
 13,851 

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

19. Reserves excluding Revaluation Reserves



299,362 

20. Earnings per share - Basic & Diluted (Rs.) (* Not annualised)
*1.27 
*0.07 
*0.94 
 2.75 







Part II





A. Particulars of Shareholding 





1. Public shareholding (including Global Depository Receipts)





-Number of Shares
257722369
257722369
257722369
257722369

-Percentage of Shareholding 
51.23
51.23
51.23
51.23

2. Promoters and promoter group shareholding





 (a) Pledged / Encumbered





-Number of Shares
Nil
Nil
92658543
Nil

-% of Shares (to total shareholding of promoters and promoter group)
Nil
Nil
37.76
Nil

-% of Shares (to total share capital of the company)
Nil
Nil
18.42
Nil

 (b) Non-encumbered





-Number of Shares
245363964
245363964
152705421
245363964

-% of Shares (to total shareholding of promoters and promoter group)
100.00
100
62.24
100

-% of Shares (to total share capital of the company)
48.77
48.77
30.35
48.77







B. Information on investor complaints pursuant to Clause 41 of the Listing Agreement for the quarter ended 30th June, 2014


Particulars
Opening balance
Additions
Disposal
Closing balance

Number of complaints received - Equity shares
Nil
1
1
Nil













Segment wise Revenue, Results and Capital Employed as per Clause 41 of Listing Agreement





(Rs. in Lakh)


Quarter ended
Year ended

Particulars 
30-Jun-14
31-Mar-14
30-Jun-13
31-Mar-14


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

1. Segment Revenue





 (a) Financial Services
 91,676 
 83,535 
 76,755 
 318,088 

 (b) Infrastructure Equipment Services
 4,045 
 3,180 
 3,051 
 13,331 

 (c) Others
 18 
 50 
 103 
 374 

Total
 95,739 
 86,765 
 79,909 
 331,793 

Less: Inter Segment Revenue
 1,475 
 1,868 
 1,242 
 5,763 

Net Income from Operations
 94,264 
 84,897 
 78,667 
 326,030 

2. Segment Results





 (a) Financial Services
 8,609 
 351 
 7,781 
 20,221 

 (b) Infrastructure Equipment Services
 1,130 
 558 
 254 
 2,299 

 (c) Others
 (13)
 12 
 (12)
 42 

Total
 9,726 
 921 
 8,023 
 22,562 

Less: Interest & Finance Charges
 - 
 - 
 - 
 - 

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

 Un-allocable Income
 - 
 - 
 - 
 - 

Total Profit Before Tax
 9,726 
 921 
 8,023 
 22,562 

3. Capital Employed 





 (Segment Assets-Segment Liabilities)





 (a) Financial Services
 305,659 
 303,224 
 333,126 
303,224 

 (b) Infrastructure Equipment Services
 16,738 
 15,196 
 10,183 
 15,196 

 (c) Others
 47,610 
 44,091 
 17,937 
 44,091 

 (d) Un-allocable
 (10,649)
 (9,857)
 (13,877)
(9,857)

Total
 359,358 
 352,654 
 347,369 
 352,654 






Notes:




1.
In accordance with clause 41 of the Listing Agreement, 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 2nd August, 2014. 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' notified by the Central Government under Companies (Accounting Standards) Rules, 2006. 
4.
The financial results of a foreign subsidiary (including its subsidiaries) and two foreign step down 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. 268 Lakh for the quarter ended 30th June, 2014 as against loss of Rs. 2,793 Lakh for the quarter ended 30th June, 2013, charged under "Finance Costs".
6.
Pursuant to the enactment of the Companies Act 2013 (the 'Act'), the Company has, effective 1st April, 2014, reviewed and revised the estimated useful lives of its fixed assets, in accordance with the provisions of Schedule II to the Act. The consequential impact (after considering the transition provision specified in Schedule II) on the results for the quarter is not material.
7.
The figures for the quarter ended 31st March, 2014 are the balancing figures between the audited figures in respect of the full financial year ended 31st March, 2014 and the published year to date figures up to the third quarter of that financial year.
8.
Company's standalone financial information (Rs. in Lakh) is as below: 


Quarter ended
Year ended

Particulars 
30-Jun-14
31-Mar-14
30-Jun-13
31-Mar-14


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

Turnover
 56,053 
 47,828 
 43,519 
180,585 

Profit Before Tax
 5,423 
 933 
 3,175 
 8,763 

Profit After Tax
 3,700 
 859 
 2,073 
 5,932 






9.
Figures pertaining to the previous year/period have been rearranged/regrouped, reclassified and restated, wherever considered necessary, to make them comparable with those of current period.











For and on behalf of the Board of Directors







Place: Kolkata 



 Sd/-

Date: 2nd August, 2014



Chairman and Managing Director

This information is provided by RNS
The company news service from the London Stock Exchange
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