IFCI Q3 Results: PSU-NBFC’s net loss widens multifold to ₹59 crore, net-interest income drops 21% YoY | Stock Market News
Source: Live Mint
IFCI Q3 Results: Industrial Finance Corporation of India, or IFCI Limited, announced its October to December quarter on Wednesday, February 12. The company’s net loss for the third quarter of the financial year 2024-25 jumped 486 per cent to ₹59 crore, compared to a net profit of ₹10.06 crore in the same quarter a year ago, as per the standalone financial statements.
The State-owned non-banking financial company’s (NBFC) net interest income dropped 21 per cent in the October to December quarter to ₹80 crore, compared to ₹101 crore in the same period a year ago.
Net interest income is the main earnings of an institutional or non-deposit-taking lender.
The firm’s total revenue from core operations dropped 10 per cent to ₹193 crore, compared year-on-year with ₹215 crore in the same period a year ago, as per the BSE filling.
IFCI Share Price
IFCI Ltd shares closed 1.26 per cent higher at ₹48.98 after Wednesday’s stock market session, compared to ₹48.37 at the previous market close. The company released its third-quarter results after market operating hours on February 12.
Shares hit their 52-week high level at ₹91.39 on July 25, 2024, while the 52-week low level was at ₹35.87 on March 14, 2024, according to the data collected from the BSE website. The company’s market capitalisation was at ₹12,801.37 crore as of Wednesday’s stock market close.
IFCI shares have given stock market investors over 700 per cent return on investment in the last five years. However, the shares have lost nearly 16 per cent in the last one-year period. The shares are trading 20.20 per cent lower on a year-to-date (YTD) basis.
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