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.
