Financial institution IFCI Ltd managed to pare its losses by over 61 per cent to Rs 86.29 crore at the end of the first quarter of 2003-04 compared with Rs 221.56 crore in the corresponding period last year.
According to the unaudited results cleared by the IFCI board today afternoon, losses before provisions and taxes was estimated at Rs 36.12 crore during the first quarter of the current financial year compared with Rs 170.98 crore during April-June 2002-03, representing a decrease of 78.87 per cent.
IFCI