IFCI Q3 Results: Net loss surged by 48% to Rs 59 crore, net-interest income drops 21% YoY
The net interest income of the state-owned non-banking financial company declined by 21% in the October to December quarter, falling to Rs 80 crore from Rs 101 crore in the same period last year.
PSU-NBFC, Industrial Finance Corporation of India, or IFCI Limited, announced its October to December quarter on Wednesday, February 12. The company's net loss for the third quarter of the financial year 2024-25 jumped 48.6% to Rs 59 crore, compared to a net profit of Rs 10.06 crore in the same quarter a year ago, as per the standalone financial statements.
The net interest income of the state-owned non-banking financial company declined by 21% in the October to December quarter, falling to Rs 80 crore from Rs 101 crore in the same period last year.
Additionally, the firm's total revenue from core operations decreased by 10%, dropping to Rs 193 crore compared to Rs 215 crore in the corresponding period a year ago, according to a BSE filing.
After the stock market session on Wednesday, IFCI Ltd shares closed 1.26% higher at Rs 48.98, up from Rs 48.37 at the previous close. The company announced its third-quarter results after market hours on February 12. As of Wednesday's stock market close, the company's market capitalization stood at Rs 12,801.37 crore.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : EIL shares in focus amid securing PMC contract from Indian Oil worth Rs 106 crore