ECGC posts marginal rise in profit

ECGC reduced the premium rate by an average 17 per cent for its whole turnover policy covers during the year.

By: ENS Economic Bureau | Mumbai | Published: June 1, 2017 2:10 am

Public sector ECGC Ltd (formerly Export Credit Guarantee Corporation) has posted a net profit of Rs 282 crore in the fiscal year 2017 as against a profit of Rs 276 crore in the previous fiscal.

ECGC reduced the premium rate by an average 17 per cent for its whole turnover policy covers during the year. The flat growth in net profit was due to all kind of challenges and volatility the company faced in FY17, ECGC chairperson and managing director Geetha Muralidhar told reporters here on Wednesday.

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