IFCI Q1 Profit Flat Year-on-Year, Revenue Declines 20%

IFCI is a company that lends money to businesses in India.

Every few months, it tells people how much money it made or lost.

The latest report is for the first three months of the financial year.

IFCI earned less money from its main business than it did one year ago.

But its profit stayed about the same as last year.

The profit was much better than in the previous three months.

The company also got a lot more money from dividends this time.

However, it had to write off some money because it never expected to get it back.

The company's safety cushion for losses is weaker than the rules require.

Even so, its shares reached their highest price ever.