IFCI net up 7% at Rs 140 crore

Total income during quarter increased to Rs 757 cr

IFCI Ltd has reported a 7.1 per cent  rise in net profit to Rs 140.31 crore for the financial year’s second quarter ended September 30. The company had posted a net profit of Rs 131.01 crore during the July-September quarter in the previous financial year, IFCI said in a filing to the BSE.

Total income of the company during the quarter increased to Rs 756.95 crore from Rs 709.74 crore a year earlier.

However, the gross NPAs (non-performing assets) of the company stood at Rs 4,118 crore (22.8 per cent) as of September 30, 2013, versus Rs 3,661 crore (22.2 per cent) as at March 31, 2013. The public sector financial firm caters to the long-term funding needs of the industrial sector.