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IFCI reports 12% rise in Q1 net profit

29 Jul 2011 Evaluate

IFCI has reported results for its first quarter ended June 30, 2011.

The company’s net profit for the quarter has rose by 11.92% at Rs 132.06 crore as compared to Rs 118.00 crore for the same quarter last year. Its total income increased by 20.56% to Rs 610.43 crore for the quarter under review from Rs 506.34 crore for the corresponding quarter of the previous year.

IFCI was established with an intention to provide long-term finance needs of the industrial sector. It got listed in the year 1993 changed its status from statutory corporation to a company. 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.

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61.22 0.54 (0.89%)
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