IFCI strengthens on reporting 71% rise in Q1 net profit

     

     IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among other.
     IFCI's net profit for first quarter ended June 30,2014 surged 71.42% at Rs 94.47 crore as compared to Rs 55.11 crore for the quarter ended June 30,2013. Its total income has increased by 31.17% to Rs 736.55 crore for the quarter under review from Rs 561.53 crore for the corresponding quarter of the previous year.
     The promoters holding in the company stood at 55.53% while Institutions and Non-Institutions held 20.57% and 23.90% respectively.
     BSE 'A' group share of face value Rs 10 has touched a 52 week high of Rs 44.90 on 10-Jun-2014 and a 52 week low of Rs 17.85 on 28-Aug-2013
     Current price of share is 38.80 up by 1.75 points from its previous closing of Rs 37.05 on the BSE.