 "IL&FS board files affidavit with NCLAT; 3 amber entities may become green")
The financial services arm of the beleaguered Infrastructure Leasing & Financial Services — IL&FS Financial Services (IFIN) — reported a staggering net loss of Rs 13,272 crore in 2018-19 (FY19), compared to a net profit of Rs 9.5 crore in the preceding financial year (2017-18, or FY18), revealed the annual report of IFIN for FY19.
The net revenue of the company also nosedived 87.22 per cent in FY19 to Rs 288.88 crore, from Rs 2261.93 crore in FY18. Furthermore, the company’s exposure to loans — marked non-performing — is to the tune of Rs12,429 crore.
As of March 2019, IFIN
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