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IFCI on Friday reported a 5.6 per cent decline in net profit for the third quarter ended December 31, 2014, at Rs 134 crore (Rs 142 crore).
Total income for the quarter under review increased 5.4 per cent to Rs 834 crore (Rs 791 crore).
Briefing mediapersons on the third-quarter financial performance, Malay Mukherjee, CEO and Managing Director, said some old borrowings got replaced at a higher cost debt and this impacted margins in the third quarter.
Mukherjee expressed confidence that IFCI would be able to report higher profits in this fiscal as compared to the last fiscal’s level of Rs 508 crore.
On stake sale in the National Stock Exchange, Mukherjee said talks were at an advanced stage with a private equity investor. IFCI is looking to sell 2.5 per cent of its 5 per cent holding in NSE.
"You can expect an announcement in the next 15 days," Mukherjee told BusinessLine .
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