India Infrastructure Finance Company Limited (IIFCL) Reports Rs 325 Crore Profit In 2020-21

Published:Nov 29, 202303:56

IIFCL Reports Net Profit Of Rs 325 Crore In 2020-21, Asset Quality Improves

State-owned India Infrastructure Finance Company Limited (IIFCL) introduced its monetary outcomes for fiscal 2020-21, reporting a 250 per cent rise in internet revenue on a consolidated foundation to Rs 325 crore, pushed by rising sanctions and disbursements. The firm introduced that its asset high quality improved because it was in a position to deliver down its internet non-performing property or NPAs to five.4 % within the monetary 12 months 2020-21, from 9.75 % in fiscal 2019-20.

In a press release issued on Tuesday, June 22, IIFCL mentioned it goals to cut back the NPAs to round 4 % within the present monetary 12 months 2021-22. The firm's money restoration in NPAs elevated to greater than Rs 625 crore within the fiscal 12 months 2020-2021 - as a lot as 92 per cent greater than final 12 months.

Established in 2006, the wholly-owned authorities group caters to the long-term financing wants of the infrastructure sector within the nation.

this copy is being up to date

To stay updated with the latest Bollywood news, follow us on Instagram and Twitter and visit Socially Keeda, which is updated daily.

sociallykeeda profile photo

SociallyKeeda: Latest News and events across the globe, providing information on the topics including Sports, Entertainment, India and world news.