Shrachi to sell MF, insurance products

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

"We are planning to start distribution of mutual fund and insurance products. The company is also planning to offer personal loans," company's managing director Ravi Todi said.

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.

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