IFCI Dec quarter net loss at Rs 177 crore

Infrastructure term lender IFCI Ltd today announced a standalone net loss to Rs 176.87 crore for the December quarter of the current financial year as against a net loss of Rs 45.17 crore in the same period a year ago.
 
Operational income for the first 9 months period declined to Rs 1,967 crore from Rs 2,162 crore in the same period last year due to slippages of many standard assets during the last quarter of FY 2017 and first quarter of FY 2018, leading to reversal of
un-realised interest income and non-recognition of post-NPA period interest and also due to pre-payment of some standard assets of about Rs 2,075 crore in this period, the company said in a statement.
 
There was operational profit of Rs 116 crore in the third quarter of this financial year as against Rs 41 crore in Q3 of FY 2017. 
 
Its total income rose slightly to Rs 655.53 crore during the quarter as against Rs 635.55 crore in the year-ago period, IFCI said in a regulatory filing.