Shrachi to sell Mutual Funds, insurance products

Kolkata, Jun 16: Infrastructure finance company Shrachi Infrastructure Finance Ltd is planning to distribute mutual funds and insurance products.

Shrachi is also planning to finance second hand vehicles in 2006-07, Mr Todi said.

The company presently finances commercial vehicles. About 75 per cent of company's business comes from commercial vehicle financing.

"We are planning to raise 10-15 per cent of total lending capital through private placements in 2006-07," he said.

The company reported net profit of Rs 7.55 crore in 2005-06 from Rs 5.81 crore in the previous year. The company's total income grew to Rs 32.04 crore in the last fiscal from Rs 25.38 crore in the previous year.

UNI