PLOUGHING SUCCESS - IFCI
Article Abstract:
Industrial Finance Corporation of India (IFCI) recorded a net profit of Rs370.50 crore during 1997-98. IFCI has utilised Rs287 crore from its reserves to provide for Rs403 crore worth non performing assets (NPA). Its gross NPA has exceeded 13.5 percent while net NPA has grown to 8.83 percent. During 1997-98, the capital adequacy ratio was around 10.38 percent. Sanctions increased by 52 percent and disbursals by 10 percent to Rs5,650 crore. Dividend had been maintained at 30 percent. (ag) ------------------------------------------------------------ Financial Performance of Industrial Finance Corporation of India (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Income from Operations 2717.42 568.46 ------------------------------------------------------------ Over Income 16.58 13.94 ------------------------------------------------------------ Cost of Borrowing 1956.51 1775.66 ------------------------------------------------------------ Other Expenditure 246.99 282.93 ------------------------------------------------------------ Depreciation 76.00 61.25 ------------------------------------------------------------ Tax 84.00 84.00 ------------------------------------------------------------ Net Profit 370.50 378.56 ------------------------------------------------------------ Equity Capital 352.93 352.81 ------------------------------------------------------------
Comment:
Records net profit of Rs370.50 crore during 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IFCI NET DIPS; DIVIDEND MAINTAINED AT 30%
Article Abstract:
Industrial Finance Corporation of India has posted a net profit of Rs370.5 crore for 1997-98 (Rs378.56 crore in 1996-97). Its credit disbursement has increased by 10 percent to Rs5,650 crore and sanctions increased by 52 percent to Rs10,983 crore. Its income from operations has increased to Rs2,717 crore (Rs2,568 crore). Its capital adequacy ratio is 10.38 percent and return on net worth is 25.82 percent. Its earnings per share works out to Rs10.93 for 1997-98. Its total asset base has increased to Rs20,986 crore in 1997-98 (Rs17,492 crore). It has maintained its dividend at 30 percent for 1997-98. (rk)
Comment:
Posts net profit of Rs370.5 crore for 1997-98, as against Rs378.56 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IFCI WITHDRAWS OSWAL AGRO LOAN
Article Abstract:
The Industrial Finance Corporation of India (IFCI) has decided to withdraw the loan sanctioned by it to the di-ammonium phosphate project of Oswal Agro Mills Ltd (OAML). It had earlier offered Rs200 crore worth loan to the project. The IFCI's decision follows its belief that it has a high exposure in OAML. OAML is now trying to raise the funds for two million tonne DAP plant from the financial institutions. The DAP project has a debt equity ratio 2:1, with a debts of Rs1,054 crore. IFICI is the highest lender with an exposure of Rs300 crore. (ag-psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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