IFCI slumped 5% to Rs 14.15 after the company posted a consolidated net loss of Rs 848.97 crore in Q4 FY21 compared with net loss of Rs 584.18 crore in Q4 FY20.
The PSU company reported a 98.17% drop in total income to Rs 15.76 crore in Q4 FY21 as against Rs 858.99 crore in Q4 FY20. The result was announced after market hours on Monday, 28 June 2021.The company posted a pre-tax loss of Rs 662.94 crore in Q4 FY21 compared with pre-tax loss of Rs 512.60 crore in Q4 FY20. Provisions & Write offs tumbled 72.1% to Rs 209.33 crore in Q4 FY21 over Q4 FY20.
The NBFC registered a consolidated net loss of Rs 1,911.68 crore in the year ended March 2021 (FY21) compared with Rs 223.21 crore in the year ended March 2020 (FY20). Total income slumped 28% to Rs 2,093.81 crore in FY21 over FY20.
IFCI is a non-banking financial company (NBFC) engaged in the business of financing companies. The company is also engaged in providing other credit granting services. Its products and services include financial products and corporate advisory services. Its financial products include debt segment and equity segment.
As of 31 March 2021, the Government of India held 61.02% stake in the company.
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