Mumbai, Mar 5: The performance of Industrial Development Bank of India (IDBI) assisted companies has improved in the third quarter of the current fiscal with sales rising by 10.7 per cent and net profits by 12 per cent compared to the same quarter in the previous year. According to a study by the premier financial institution on the performance of a sample of 200 companies directly assisted by it, the total income growth in these companies rose by 12.2 per cent, while cost of production for the sample companies increased by 11.3 per cent.
A release issued by the financial institution confirmed that the gross profits of these companies showed a significant 18 per cent improvement but owing to an adverse 23.5 per cent growth in interest costs, these 200 sample companies recorded a modest net profit growth of only 12.2 per cent.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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