FTIL Sept net jumps 12 times to Rs 327 cr

FTIL on Wednesday said its net profit for the second quarter of the current financial has jumped over 12 times to Rs 327 crore on the back of one-time gain on sale of its holding in MCX. The company had posted a net profit of Rs 27 crore in the previous comparable period. The company booked a gain of Rs 851 crore on sale of its holding in MCX during the period under review, FTIL said in a statement.

During the period, the company has made provisions towards other than temporary diminution in value of investments to the tune of Rs 588 crore. Last month, the government had ordered merger of scam-hit NSEL with its holding company FTIL to help investors and others hit by the Rs 5,600-crore "fraud" get back their money.