Today, Shares of IFCI Plunged 4% after loss in Q1FY19
On Monday, the shares of IFCI Ltd plunged over 4 per cent when the company on Saturday posted a net loss of Rs 340.77 crore for the quarter ended June 2018 against net profit of Rs 277.05 crore in the same quarter last year.
It was reported that the total income of the company plunged 25.78 per cent year-on-year to Rs 673.19 crore for Q1FY19 as compared Rs 907.01 crore for the corresponding quarter previous year.
Today, at around 2 ‘O’ clock, the scrip was trading 4 per cent down at Rs 15.60, while the BSE Sensex was down 383 points, or 1 per cent, at 38,005 at around the same time.
Company’s total expenditure was around 142 per cent to Rs 1,191.85 crore during the quarter under review. It had posted a total expenditure of Rs 491.65 crore in Q1FY18.