Kolkata, Feb 3 (IANS) 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.
