IFCI posts Q1 net loss of Rs 232.00 cr
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The company reported standalone net loss during the quarter stood at Rs 232.00 crore as compared to net loss of Rs 717.78 crore in the previous year quarter. Net revenue of the company declined substantially by 49.00 per cent at Rs 114.69 crore in April-June quarter of this fiscal as against Rs 224.89 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 76.25 per cent to Rs 206.70 crore from Rs 870.18 crore in year ago period. Other Income dipped by 5.41 per cent at Rs 0.70 crore versus (Jun'21 Rs 0.74 crore). Operating Profit slipped by 85.74 per cent to Rs -92.01 crore as against Rs -645.29 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 72.04 per cent in June quarter. Interest declined by 34.83 per cent y-o-y to Rs 165.64 crore, while Taxation decreased by 83.53 per cent at Rs -30.98 crore (Jun'21 Rs -188.08 crore).
