IL&FS posts Rs 22,527 cr net loss in FY19, revenue dips 52.5% to Rs 824 cr

Its assets declined 81.5% to Rs 4,148 crore compared to Rs 23,868 crore in 2017-18

Infrastructure Leasing & Financial Services (IL&FS), whose defaults on its payment obligations led to a liquidity crisis in the shadow banking sector, has posted a staggering net loss of Rs 22,527 crore in 2018-19 (FY19) on a standalone basis, as against a net profit of Rs 333 crore in the previous year, according to the company.

The company’s revenue declined 52.5 per cent to Rs 824 crore in FY19 from Rs 1,734 crore in FY18. Similarly, its assets declined 81.5 per cent to Rs 4,148 crore compared to Rs 23,868 crore in 2017-18. Liabilities of the company increased 15.3 per cent