SREI Infrastructure Finance rises nearly 7% as Q1 profit jumps 114% at 139.57cr

Share price of SREI Infrastructure Finance added nearly 7 percent intraday Thursday as company reported strong numbers for the first quarter ended June 2018 (Q1FY19).

The company has registered 114 percent jump in its Q1 profit to Rs 139.57 crore versus Rs 65.18 crore, in a year ago period.

Revenue increased 20 percent to Rs 1,467.8 crore versus Rs 1,215.7 crore.

Sameer Sawhney has resigned as the chief executive officer (CEO) of the company w.e.f. September 5, 2018.

Hemant Kanoria, Chairman and Managing Director of SREI said: "Overall there has been improvement in the business as projected earlier. In the first quarter of the current financial year, there has been growth in disbursements and profit."

At 09:42 hrs SREI Infrastructure Finance was quoting at Rs 52.60, up Rs 1.10, or 2.14 percent on the BSE.

The share touched its 52-week high Rs 124.60 and 52-week low Rs 45.90 on 26 October, 2017 and 23 August, 2018, respectively.

Currently, it is trading 57.78 percent below its 52-week high and 14.6 percent above its 52-week low.

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