IFCI posts Rs 209 cr Q2 profit, interest income declines to Rs 110 cr

Term lender IFCI on Wednesday reported a consolidated net profit of Rs 209 crore for September quarter 2022-23.

The company had incurred a net loss of Rs 445 crore in the same quarter a year ago.

Total income increased to Rs 425 crore in July-September 2022-23 from Rs 373 crore in the same quarter of previous financial year, IFCI said in a regulatory filing.

Interest income decline to Rs 110 crore during the quarter from Rs 142 crore a year ago.

On standalone basis, IFCI earned a profit of Rs 110 crore during the quarter as compared to Rs 526 crore earlier.

Total income of the company rose to Rs 126 crore from Rs 106 crore.

The company received Rs 100 crore on September 17, 2022 from the Centre towards subscription to the share capital as share application money, it said.