IFCI has reported results for third quarter ended December 31, 2013.
The company has reported 86.59% rise in its net profit at Rs 142.39 crore for the quarter, as compared to Rs 76.31 crore for the same quarter in the previous year. Total income of the company increased by 24% at Rs 803.06 crore for quarter under review as compared to Rs 647.58 crore for the quarter ended December 31, 2012.
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.