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Srei Infra nosedives 15% after company posts Rs 3,810-crore Q3 loss
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Last Updated: Feb 15, 2021, 09:40 AM IST
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The company had reported a net profit of Rs 60 crore in the year-ago period.
The Srei Infra stock fell 15.47 per cent to hit a low of Rs 6.23 on BSE.
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NEW DELHI: Srei Infrastructure Finance shares tanked over 15 per cent in Monday s trade after the NBFC reported a consolidated net loss of Rs 3,810 crore for the December quarter on account of higher and accelerated provisioning as a prudent measure.
The company had reported a net profit of Rs 60 crore for the corresponding period a year ago.
Srei reports whopping loss of Rs 3,810 cr in Q3
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Last Updated: Feb 14, 2021, 05:10 PM IST
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Synopsis
The Kolkata-based company claimed that the Covid-19 pandemic had impacted its recovery, leading to an asset- liability mismatch.
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KOLKATA:
Srei Infrastructure Finance Ltd on Sunday said it has posted a consolidated net loss of Rs 3,810 crore during the third quarter of the current fiscal on account of higher and accelerated provisioning as a prudent measure.
The company had reported a net profit of Rs 60 crore in the year-ago period.
Its revenue from operations for the October-December period of the current fiscal stood at Rs 490 crore as against Rs 1,450 crore in the corresponding quarter last year.
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