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Home STOCKS IFCI Ltd.: IFCI Q4 final results: Net loss widens to Rs 584...

IFCI Ltd.: IFCI Q4 final results: Net loss widens to Rs 584 crore

NEW DELHI: Infrastructure term lender IFCI Ltd has reported widening of its consolidated internet loss to Rs 584.19 crore for the quarter finished March 2020.
The lender experienced posted a internet loss of Rs 86.15 crore during the corresponding January-March interval of 2018-19.
Money in the course of the quarter, even so, rose to Rs 858.99 crore from Rs 637.61 crore on the back again of wholesome interest profits, IFCI Ltd claimed in a regulatory filing on Friday.
On the other hand, there was loss on account of fee and commission revenue, which was almost at the identical level of FY19.
For the whole fiscal 2019-20, the firm narrowed its web loss to Rs 223.21 crore as towards Rs 475.99 crore in FY19.
Cash flow all through the calendar year fell to Rs 2,905.68 crore from Rs 3,134.49 crore a year in the past.
IFCI even more explained the firm board at its assembly held on Friday permitted Useful resource Planning Policy for borrowing up to Rs 25,000 crore (excluding non permanent loans attained from bankers in regular study course of business enterprise) at any point of time by means of financial loans / bonds/ debentures.
Also, through FY20, the business realised Rs 904.25 crore by sale of equity shares of Nationwide Inventory Trade of India Ltd (NSE), which was valued at fair value as for each Ind-AS norms in earlier fiscal statements.
This resulted in a web loss of Rs 1.46 crore, which has been accounted for in the financial statements for the quarter/12 months finished March 31, 2020.
On the COVID-19 outbreak, it mentioned the impression will not be sizeable on its organization and money position.

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