IFCI Ltd today reported an over three-fold jump in net losses to Rs 884.70 crore during 2001-02, against Rs 265.93 crore during 2000-01. Losses during the fourth quarter rose almost 30 per cent to Rs 395.12 crore, compared with Rs 304.11 crore during the corresponding period in the previous financial year.
Provisioning and write-offs for bad and doubtful debt and investment rose 27.36 per cent to Rs 631.57 crore as against Rs 495.89 crore in 2000-01. Provisioning and write-offs during the last quarter of 2001-02 was 304.58 crore, compared to Rs 394.55 crore in the corresponding period in 2000-01.
Total income fell 22.20 per cent to Rs 2,248.65 crore during 2001-02 from Rs 2,890.39 crore, other income rose to Rs 30.12 crore (Rs 10.4 crore). Income from operations was at Rs 2218.53 crore (Rs 2,879.92 crore).
In the fourth quarter of 2001-02, IFCI
