FTIL posts Rs 4.86 cr loss during Dec quarter

Financial Technologies India Ltd (FTIL) today reported a net loss of Rs 4.86 crore for the quarter ended December on lower sales and higher expenses.
The company had posted a net profit of Rs 34.47 crore in the year-ago period.
Total income from operations dropped by 57 per cent to Rs 35.54 crore in the third quarter of this fiscal from Rs 81.79 crore in the corresponding period of the previous year.
FTIL's total expenditure rose to Rs 72.67 crore during October-December period from Rs 56.69 crore in the year-ago period. Legal and professional charges increased to Rs 18.05 crore from Rs 11.51 crore during the period under review.

The company's board of directors, in its meeting held yesterday, declared third interim dividend of Rs 5 per share and the payment of third interim dividend shall be made on or before February 24.
Jignesh Shah-led FTIL is under crisis following the Rs 5,600 crore payment default at its subsidiary firm National Spot Exchange Ltd (NSEL).