IFCI Ltd standalone net loss at Rs340.77cr in Q1FY19, vs. net profit of Rs277cr yoy

The company’s standalone NII stood at Rs140.48cr, down 59.15% yoy and 44.5% qoq.

Sep 10, 2018 03:09 IST India Infoline Research Team


Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
NII 140.5 [59.2]
Net Loss (adjusted) 341 -

IFCI’s revenue came in higher at Rs642cr, down 28.7% yoy. Its NII came at Rs140.5cr in Q1FY19 against Rs344cr in Q1FY18. IFCI’s net loss for Q1FY19 stood at Rs340.8cr against a profit of Rs277cr in Q1FY18.
  • NII was lower by 44.5% qoq as interest income fell by 12.3% qoq, while interest expense fell by 1.5% qoq.
  • Employee expenses rose by 6% yoy to Rs18cr.
  • IFCI has received Rs280cr from the resolution of Bhushan Steel. The company has also received 5.8 lakh shares of Bhushan Steel (valued at Rs1.7cr based on current market cap).

Technical View:

IFCI Ltd ended at Rs. 16.25, up by 0.15 points or 0.93% from its previous closing of Rs. 16.10 on the BSE.
The scrip opened at Rs. 16 and touched a high and low of Rs. 16.40 and Rs. 15.95 respectively. A total of 3,99,748 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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