Regulatory News

Unaudited Consolidated Financial Results 30.06.12

Fri, 10th Aug 2012 16:10

RNS Number : 8202J

SREI Infrastructure Finance Limited

10 August 2012

SREI INFRASTRUCTURE FINANCE LTD.
Regd Office: 'Vishwakarma', 86C, Topsia Road (South), Kolkata - 700 046, Website: www.srei.com, Email for Investors: investor.relations@srei.com
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2012
				(` in Lakh)
	Quarter ended			Accounting year ended
Particulars	30-Jun-12	31-Mar-12	30-Jun-11	31-Mar-12
	(Reviewed)	(Reviewed)	(Reviewed)	(Audited)
1. Income
(a) Income from Operations	73021	63151	50471	237782
(b) Other Operating Income	2650	2185	477	5608
Total Income from Operations	75671	65336	50948	243390
2. Expenses
(a) Employee Benefits Expense	4460	4547	3665	17180
(b) Legal and Professional Fees	860	1087	1048	3967
(c) Operating and Other Expenses	4348	4218	4308	18351
(d) Bad Debts written off	1377	1865	527	5121
(e) Contingent Provisions against Standard Assets	392	211	292	1169
(f) Provision for Bad and Doubtful Debts	84	1,604	278	2162
(g) Depreciation/Amortisation/Impairment	5157	4773	4160	16503
Total Expenses	16678	18305	14278	64453
3. Profit from Operations before Other Income, Finance Cost & Exceptional items (1-2)	58993	47031	36670	178937
4. Other Income	497	153	135	1243
5. Profit from ordinary activities before Finance Cost & Exceptional items (3+4)	59490	47184	36805	180180
6. Finance Cost	54774	41711	27841	156503
7. Profit from ordinary activities after Finance Cost but before Tax & Exceptional items (5-6)	4716	5473	8964	23677
8. Exceptional Items	-	-	-	-
9. Profit from ordinary activities before Tax (7-8)	4716	5473	8964	23677
10. Current tax expenses	2484	2108	3,034	8951
11. Income Tax in respect of Earlier Years	-	1,898	(2)	2411
12. Net Profit from ordinary activity after Tax (9-10-11)	2232	1467	5932	12315
13. Extraordinary Items (net of expenses)	-	-	-	-
14. Net Profit for the period/year (before adjustment for Minority Interest) (12-13)	2232	1467	5932	12315
15. Share of Profit/(Loss) of Minority Interest	490	146	472	1134
16. Net Profit after taxes and minority interest (14-15)	1742	1321	5460	11181
17. Paid-up Equity Share Capital (Face Value ` 10/- each)	50324	50324	50324	50324
18. Reserve excluding Revaluation Reserves				267543
19. Earnings per share- Basic & Diluted (`)	**0.35	**0.26	**1.09	2.22
A. Particulars of Shareholding
1. Public shareholding (excluding Global Depository Receipts)
- Number of Shares	265347427	266244714	270555417	266244714
- Percentage of Shareholding	52.75	52.92	53.78	52.92

	2. Promoters and promoter group shareholding
	(a) Pledged/Encumbered
	- Number of Shares			89858543		86658543			-			86658543
	- % of Shares (to total shareholding of promoters and promoter group)			37.80		36.59			-			36.59
	- % of Shares (to total share capital of the company)			17.86		17.23			-			17.23
	(b) Non Encumbered
	- Number of Shares			147858763		150161476			232509316			150161476
	- % of Shares (to total shareholding of promoters and promoter group)			62.20		63.41			100.00			63.41
	- % of Shares (to total share capital of the company)			29.39		29.85			46.22			29.85
	B. Investor Complaints
	-Pending at the beginning of the quarter			Nil
	-Received during the quarter			Nil
	-Disposed of during the quarter			Nil
	-Remaining unresolved at the end of the quarter			Nil
	** Not annualized

	Segment wise Revenue, Results and Capital Employed as per Clause 41 of Listing Agreement
											(` in Lakh)
			Quarter ended								Accounting year ended
	Particulars		30-Jun-12		31-Mar-12			30-Jun-11			31-Mar-12
			(Reviewed)		(Reviewed)			(Reviewed)			(Audited)
	1. Segment Revenue
	(a) Financial Services		69743		59630			43325			214619
	(b) Infrastructure Equipment Services		7114		6691			7327			29726
	(c) Others		1054		859			1688			6468
	Total		77911		67180			52340			250813
	Less: Inter Segment Revenue		1743		1691			1257			6180
	Net Income from Operations		76168		65489			51083			244633
	2. Segment Results
	(a) Financial Services		4973		5528			8062			20549
	(b) Infrastructure Equipment Services		716		540			1012			4238
	(c) Others		(691)		(313)			35			(179)
	Total		4998		5755			9109			24608
	Less: Interest & Finance Charges		282		282			145			931
	Other Un-allocable Expenditure (Net)		-		-			-			-
	Un-allocable Income		-		-			-			-
	Total Profit Before Tax		4716		5473			8964			23677
	3. Capital Employed
	(Segment Assets-Segment Liabilities)
	(a) Financial Services		272253		273812			286549			273812
	(b) Infrastructure Equipment Services		26520		25222			18988			25222
	(c) Others		37551		33250			29556			33250
	(d) Un-allocable		(5904)		(5289)			(13637)			(5289)
	Total		330420		326995			321456			326995

Notes:
1.		In accordance with clause 41 of the Listing Agreement, the Company has published 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 were reviewed by the Audit Committee at its meeting held on 10th August, 2012 and approved by the Board of Directors at its meeting held on the same date. The Statutory Auditors of the Company have reviewed the said results.
3.		The above unaudited consolidated financial results have been prepared in accordance with 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.		Earnings per share (Basic & Diluted) have been calculated as per Accounting Standard - 20 'Earnings Per Share' notified by the Central Government under Companies (Accounting Standards) Rules, 2006.
5.		The financial results of a foreign subsidiary (including its subsidiaries and joint venture), six foreign step down subsidiaries and a foreign joint venture of a subsidiary have been prepared as per IFRS, generally followed in the country of their incorporation. As there are no material differences between the accounting policies, no adjustments have been considered necessary.
6.		Due to depreciation of the Indian Rupee against the US Dollar, the Company has provided for Marked-to-Market losses amounting to ` 5,853 lakh for the quarter ended 30th June, 2012 as against ` 175 Lakh for the quarter ended 30th June, 2011.
7.		Figures pertaining for the previous year/period have been rearranged/regrouped, reclassified and restated, wherever considered necessary, to make them comparable with those of current period.
8.		Company's standalone financial information (` in Lakh) is as below:
			Quarter ended							Accounting year ended
		Particulars	30-Jun-12		31-Mar-12		30-Jun-11			31-Mar-12
			(Reviewed)		(Reviewed)		(Reviewed)			(Audited)
		Turnover	40937		34815		22544			118069
		Profit Before Tax	1439		4976		4707			10879
		Profit After Tax	954		1659		3329			5796

					For and on behalf of the Board of Directors


		Place: Kolkata								Hemant Kanoria
		Date: 10th August, 2012					Chairman and Managing Director

This information is provided by RNS

The company news service from the London Stock Exchange

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