India Infrastructure Finance Company Ltd (IIFCL) on Tuesday reported a more than three-fold jump in its net profit to Rs 325 crore for the fiscal ended March 2021, mainly helped by recovery and reduction of bad loans.
The state-owned infrastructure finance company had earned a net profit of Rs 94 crore on a consolidated basis in the previous fiscal.
At the same time, the standalone profit of the company rose over five times to Rs 286 crore as compared to Rs 51 crore in 2019-20.
During the year (2020-21), the company posted record performance with the highest ever sanctions and disbursements at Rs 20,892 crore and Rs 9,460 crore, respectively, on a standalone basis, IIFCL managing director P R Jaishankar said while announcing annual financial numbers.
