India Infrastructure Finance Company Ltd (IIFCL) today 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 company had earned a net profit of Rs 94 crore on a consolidated basis in the previous fiscal.
Announcing annual financial results of the company Managing Director of IIFCL Mr P R Jaishankar said during the year (2020-21), the company posted record performance with the highest ever sanctions and disbursements.
IIFCL is a Government of India owned company set up in 2006 to provide long-term financial assistance to viable infrastructure projects.
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