 "IFCI")
State-owned lender IFCI on Saturday reported a loss of Rs 110.2 crore for the first quarter ended June 30, on account of three-fold jump in provisioning for bad loans.
The company had posted a net profit of Rs 101.5 crore for the corresponding quarter of 2014-15.
During the period provisioning of the company saw a threefold jump to Rs 387.09 crore as against Rs 129.88 crore in the same period a year ago.
Total income of the company declined to Rs 832.4 crore from Rs 914 crore a year ago.
Other income also declined to Rs 10.39 crore as compared to Rs 27.72 crore.
However, the country's oldest financial institution had an operational profit of Rs 173.89 crore compared with Rs 250.49 crore in the same period a year ago.
