IFCI’s poor run continues as it reported the highest gross non-performing assets (NPAs) in the entire banks, financial services & insurance (BFSI) sector.
The company's gross NPA stands at 10 percent and net NPA at 8 percent, says Satpal Arora, MD, Tourism Finance Corporation of India (TFCI).
IFCI is one stock which will see further upside in today's trading session because of the operating parameters that were released post market.
IFCI posted its December quarter earnings Monday with revenues climbing to Rs 790.64 crore from Rs 638.43 crore in the same quarter last year while net profit jumped from Rs 76.31 crore to Rs 142.39 crore.
Atul Kumar Rai, chief executive officer and managing director of IFCI told CNBC that its business has been going through a sluggish phase.
Atul Kumar Rai, CEO and managing director of IFCI says the environment has been sluggish and acknowledges that the company's profitability has slipped a little.
Atul Kumar Rai, chief executive officer and managing director of IFCI said the company’s net interest margins have been under pressure recently.
Atul Kumar Rai, CEO and managing director of IFCI says the company expects a likely drop in the net interest margins (NIMs) due to volatile macro aspects. Rai says, “A 2.5% NIM is what we are looking at, over the medium-term.” He further adds that the company is okay with being able to expand from a small or relatively smaller base.
Atul Kumar Rai, CEO & MD of IFCI, in an interview with CNBC-TV18’s Latha Venkatesh and Gautam Broker, gave his perspective of the fourth quarter performance and divulged future plans.