IFCI Ltd has recorded a 48 per cent decline in net profit at Rs 259 crore in the second quarter ended September 30 this year as against Rs 497 crore in the corresponding quarter last year.
The dip in profit is mainly on account of lower income from operations and recovery of bad loans.
Income from operations fell by 35 per cent to Rs 383 crore in July-September period of 2008-09 as against Rs 591.6 crore in the same period in 2007-08.
IFCI share price today rose 3.79 per cent to Rs 30.10 on the Bombay Stock Exchange as against the previous closing of Rs 29.
