Aided by a strong show in operational income, IFCI on Thursday reported a 5 per cent increase in net profit for the second quarter ended September 30, at Rs.183 crore (Rs.174 crore). This bottom-line performance was up 79 per cent over the first quarter net profit of Rs.102 crore.
Besides growth in loan book, the net profit jump could be attributed to the nearly Rs.200-crore gain from the stake sale in the NSE and some selling of non-core realty assets that resulted in ‘other income’ of about Rs.45 crore. Total income grew 24 per cent to Rs.1,058 crore (Rs.855 crore).
In the first half this fiscal, IFCI has reported a net profit of Rs.284 crore, higher than the Rs.268 crore notched up in the same period last year.
“Going by the performance so far this fiscal, we are sure to surpass last year’s net profit (Rs.522 crore),” Malay Mukherjee, Managing Director & Chief Executive Officer, IFCI, told a press conference here.
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