NEW DELHI, November 17: The Industrial Finance Corporation (IFCL) has recorded a profit after tax of Rs 217.59 crore for the first half ending September 30,1997, which is a 18.81 per cent growth over PAT of Rs 183.14 crore for the corresponding period in the last fiscal.

Total income for the half year was Rs 1,285.74 crore, up by 13.3 per cent compared to Rs 1,135.12 crore in the corresponding period last year. Profit after tax as a percentage of total income for the half year was higher at 16.95 per cent as compared to 14.68 per cent during the first six months of 1996-97.

The annualised return on average networth was at 25.91 per cent as on September 30, 1997. The annualised earnings per share (EPS) for the first half of 1997-98 works out to Rs 12.33 as against Rs 10.73 in 1996-97. The book value per share has improved to Rs 48.60 as of September 30, 1997 from Rs 43.66 as on March 31, 1997.

The capital adequacy ratio stood at 12.20 per cent as of September 30, 1997 as against 10.07 per cent as on March 31,1997.

Total business assets increased to Rs 16,512 crore as on September 30, 1997 from Rs 15,329 crore as on March 31, 1997 registering an annualised growth of 15.44 per cent.

Loan disbursements which started on a sedate note with Rs 769 crore in the first quarter (April-June) have gained momentum and have grown to Rs 1,194 crore in the second quarter (July-September). About 16 per cent of the disbursals have gone to infrastructure projects. Loan disbursements are expected to be in the vicinity of Rs 3,400 crore by Novemberr '97. IFCI is confident of achieving its disbursement target of Rs 6,000 crore for the year.

In the first seven months from April '97 to October '97 loan approvals aggregated Rs 6,013 crore registering an increase of 39.4 per cent compared to Rs 4,313 crore in the corresponding period of the previous year.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.