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IFCI posts net loss of Rs 177 cr for December quarter

The company had registered a net loss of Rs 45.17 crore for the October-December quarter of last fiscal.

February 05, 2018 / 05:02 PM IST
 
 
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Infrastructure term lender IFCI Ltd today reported widening of standalone net loss to Rs 176.87 crore for the December quarter of the current fiscal.

The company had registered a net loss of Rs 45.17 crore for the October-December quarter of last fiscal.

Its total income rose slightly to Rs 655.53 crore during the quarter under review, as against Rs 635.55 crore in the year-ago period, IFCI said in a regulatory filing.

The entire financial sector is under stress due to the burden of non performing assets, significantly in the infrastructure and iron and steel sectors, the company said in a separate statement.

"IFCI is no exception in the financial sector and large amount of slippage in standard assets to non standard assets in 2016-17 has impacted the operational income and the net earnings," it added.

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The IFCI stock closed 2.17 per cent down at Rs 24.80 on BSE.
PTI
first published: Feb 5, 2018 05:00 pm
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