 "IFCI logs Rs 101 crore Q4 net loss as provisions weigh")
Infrastructure term lender IFCI today reported a net loss of Rs 101 crore for the fourth quarter ended March 2016 due to higher provisions.
The company had reported a net profit of Rs 120 crore in January-March of 2014-15.
The gross non-performing assets (NPAs) and net NPAs as of March 31 have increased to 13.05% and 9.54%, respectively, the company said at a press meet here.
The corresponding figures stood at 10.28% and 7.18% in the same period a year earlier.
Total income in the March quarter increased to Rs 1,023.72 crore as against Rs 886.39 crore a year ago.
For the full year 2015-16, net profit declined to Rs 337.5 crore, from Rs 521.60 crore in the previous fiscal.
Total full-year income, however, rose to Rs 4,006.64 crore from the earlier Rs 3,346.08 crore.
Further, IFCI said that the board, at its meeting held today, announced an interim dividend of 10%, or Re 1 per share, for 2015-16.
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