IFCI Ltd today reported an over three-fold jump in net losses to Rs 884.70 crore during 2001-02, against Rs 265.93 crore during 2000-01. Losses during the fourth quarter rose almost 30 per cent to Rs 395.12 crore, compared with Rs 304.11 crore during the corresponding period in the previous financial year.
Provisioning and write-offs for bad and doubtful debt and investment rose 27.36 per cent to Rs 631.57 crore as against Rs 495.89 crore in 2000-01. Provisioning and write-offs during the last quarter of 2001-02 was 304.58 crore, compared to Rs 394.55 crore in the corresponding period in 2000-01.
Total income fell 22.20 per cent to Rs 2,248.65 crore during 2001-02 from Rs 2,890.39 crore, other income rose to Rs 30.12 crore (Rs 10.4 crore). Income from operations was at Rs 2218.53 crore (Rs 2,879.92 crore).
In the fourth quarter of 2001-02, IFCI
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app