 "IFCI posts Rs 45 cr net loss in December quarter")
State-run infrastructure term lender IFCI on Saturday reported a standalone net loss of Rs 45.17 crore for third quarter ended December on higher provisions for bad loans and fall in income.
The company has registered a net profit of Rs 154.33 crore during the October-December period of the previous financial year.
"Total income decreased to Rs 635.55 crore for the quarter ended December 2016 from Rs 947.15 crore for the same quarter year ago," said IFCI in a regulatory filing.
There were write-offs and provisions for bad or doubtful assets to the tune of Rs 139.87 crore during the quarter, a sharp jump from Rs 48.50 crore a year ago, the company said.
Net income from operations came down to Rs 569.44 crore from Rs 891.17 crore in year-ago period.
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