IFCI posts Rs 45 crore net loss in Oct-Dec qtr

State-run infrastructure term lender IFCI on Saturday reported standalone net loss of Rs 45.17 crore for third quarter ended December on higher provisions for bad loans and fall in income.

The company has registered a net profit of Rs 154.33 crore during the October-December period of previous fiscal.

Its "total income decreased to Rs 635.55 crore for the quarter ended December 2016 from Rs 947.15 crore for the same quarter year ago," IFCI said in a regulatory filing.

There were write-offs and provisions for bad/doubtful assets to the tune of Rs 139.87 crore during the quarter, a sharp jump from Rs 48.50 crore a year ago, the company said.