IFCI Q1 net profit up 17%

Financial consultancy IFCI today reported a rise of 17.09 per cent in profit after tax at Rs 118 crore for the first quarter ended June 30, 2010.

It had a profit after tax of Rs 100.78 crore during the corresponding quarter of last fiscal, IFCI Ltd said in a filing to the Bombay Stock Exchange.

IFCI income from operations during the first quarter soared by 55.85 per cent to Rs 496.71 crore over Rs 318.72 crore in the year-ago period, the filing added.