IFCI H1 net falls 31% at Rs 47 cr

NEW DELHI, OCT 29: The Industrial Finance Corporation of India (IFCI) today announced over 31 per cent fall in net profits during April-September this year at Rs 46.9 crore as against Rs 68.3 crore in the corresponding period last year.

Institution’s total income from operations during the period fell to Rs 1,459.5 crore as against Rs 1,465.5 crore in the first-half of last year. However, corporation’s net profit in the second quarter of current financial year have been better at Rs 16.63 crore up from Rs 4.12 crore last year despite a fall in income from operation to Rs 729.24 crore (Rs 748.5 crore).