IFCI has reported results for first quarter ended June 30, 2014.
The company’s net profit for the quarter has surged 71.42% at Rs 94.47 crore as compared to Rs 55.11 crore for the quarter ended June 30, 2013. Its total income has increased by 31.17% to Rs 736.55 crore for the quarter under review from Rs 561.53 crore for the corresponding quarter of the previous year.
IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.