NABFID net profit up 88 percent to Rs 360 crore in Q1
[ad_1]
copy photo
NABFID said in a public notice that its total income rose to Rs 432 crore in the first quarter of the current financial year from Rs 212 crore in the same quarter a year ago.
New Delhi. State-owned National Bank for Financing Infrastructure and Development’s (NABFID) net profit rose 88 per cent to Rs 360 crore in the first quarter (April-June) of the current financial year. The Mumbai-based Development Finance Institution (DFI) had posted a net profit of Rs 192 crore in the same period a year ago. NABFID said in a public notice that its total income rose to Rs 432 crore in the first quarter of the current financial year from Rs 212 crore in the same quarter a year ago.
DFI reserves (excluding revaluation reserves and including grants received from the Government of India) increased to Rs 6,921 crore in the first quarter from Rs 5,360 crore in the corresponding period of the previous fiscal. Presenting the Union Budget 2021-22, Finance Minister Nirmala Sitharaman had said that the government will set up a Development Finance Institution (DFI) to promote investment in the fund-starved infrastructure sector. After this, this DFI was formed through the National Bank for Financing Infrastructure and Development (NABFID) Act 2021.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
