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

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.

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