IFCI net rises 4.29 times in Sep `07 Qtr

Leading lender to corporates, IFCI, disclosed a phenomenal jump
in the net profit for the quarter ended September 2007. During
the quarter, the company experienced a 4.29 times rise in profit
to Rs 4,972.90 million from Rs 1,158.30 million in the quarter
ended September 2006.

Net sales for the reporting quarter stood at Rs 5,916 million.

Total income rose 83% to Rs 5,956 million for the quarter ended
September 2007 from Rs 3,254.70 million for the same period last
year.

The basic and diluted EPS, after extraordinary items, stood at Rs
4.85 in the quarter ended September 2007

Half Yearly Result:

On half yearly basis, IFCI, has disclosed a phenomenal jump in
the net profit for the half year ended in September 2007. During
the period, the company experienced a 7.42 times rise in profits
to Rs 7,441.50 million from Rs 1,002.20 million in the half year
ended September 2006.

Operating income for the half year ended September 2007 rose
63.61% to Rs 9,415.50 million from Rs 5,754.50 million in the
half year ended September 2006.

Total income rose 85.83% to Rs 10,811.70 million for the half
year ended September 2007 from Rs 5,817.80 million for the same
period last year.

The diluted EPS after extraordinary items, stood at Rs 7.29 for
the half-year ended September 2007.

Highlight of the quarter:

IFCI initiated the process of inducting strategic investor, by
offloading its stake.

The Reserve Bank of India (RBI) notified that foreign
institutional investors (FIIs) can now purchase shares of IFCI
under portfolio investment scheme (PIS), through the secondary
market in India.

The Business:
IFCI, incorporated in 1948 by the Government of India, is engaged
in providing credit to all segments of the Indian industry. The
company is involved in the activities of project finance,
financial services, non-project specific assistance, and
corporate advisory services.

IFCI also provides equipment finance, equipment credit, and
equipment leasing, corporate loans, short-term loans and working
capital loans to meet the specific needs of corporate.

Shares of the company gained Rs 3.5, or 4.13%, to settle at Rs
88.15. The total volume of shares traded was 10,314,031 at the
BSE.(Monday)