IIFCL net profit up 47% at Rs 1,000 cr in 2012-13

India Infrastructure Finance Company Ltd (IIFCL) today said it has recorded 47.4 per cent jump in its net profit at Rs 1,000 crore for the year ended March 2013

India Infrastructure Finance Company Ltd (IIFCL) today said it has recorded 47.4 per cent jump in its net profit at Rs 1,000 crore for the year ended March 2013.

The state-owned infrastructure finance company had earned a net profit of Rs 678 crore in the previous fiscal.

The strong net profit performance in 2012-13 is on the back of robust growth in total revenues supported by lower growth in total expenses,IIFCL chairman and managing director SK Goel said here.

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During financial year 2012-13,the company on a consolidated basis,has achieved a business growth of 37 per cent in cumulative gross sanctions and 35 per cent in cumulative disbursements, he said.

The company disbursed around Rs 30,400 crore including Rs 2,761 crore under Takeout Finance Scheme and Rs 4,418 crore under Refinance Scheme during the year,he said.

On a cumulative basis,he said,IIFCL has sanctioned around Rs 8,000 crore and disbursed around Rs 2,800 crore under the scheme.