IFCI has reported results for first quarter ended June 30, 2018.
The company has reported a net loss of Rs 340.77 crore for the quarter under review as compared to net profit of Rs 277.05 crore for the same quarter in the previous year. Total income of the company decreased by 25.78% at Rs 673.19 crore for Q1FY19 as compared Rs 907.01 crore for the corresponding quarter 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.
