New Delhi: Infrastructure sector lender IFCI on Tuesday reported widening of loss to Rs 717.78 crore in the first quarter of the current fiscal. The company had a net loss of Rs 296.42 crore on a standalone basis in the same quarter of previous financial year.
Total income declined to Rs 225.63 crore in the latest quarter under review from Rs 479.38 crore in the year-ago period,
said in a filing to the BSE.
IFCI’s total expenses in the June quarter rose to Rs 1,131.49 crore, which includes Rs 830 crore for impairment losses on financial assets.
The company received Rs 200 crore on March 15, 2021 from the government towards subscription to the share capital during 2020-21 as share application money, it said.
In this regard, the company made a preferential allotment of 14,59,85,401 shares at a price of Rs 13.70 apiece to the government on April 23, 2021.
