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New Delhi, Aug 6

India Infrastructure Finance Company Ltd (IIFCL) has announced a five-fold increase in its net profit at Rs 69.98 crore for the 2008-09 fiscal, compared with Rs 14.10 crore in the previous fiscal. The total income increased to Rs 634.86 crore (Rs 120.20 crore). Total expenses, however, rose to Rs 485.14 crore (Rs 86.67 crore), mainly due to borrowings. The company though pointed out that it still continues to have no non-performing assets (NPAs). IIFCL added that in to tal it has sanctioned Rs 18,714 to 108 infrastructure projects, of which 103 have achieved financial closure. The dispersal of funds saw a growth of 107 per cent, with Rs 3,197 crore being given in 2008-09 (Rs 1,541 crore). Also, among the assisted projects, 11 have achieved a commercial operation date (CoD), while seven highway projects are still awaiting the CoD.The Rs 10,000 crore raised through tax-free bonds will be utilised for refinancing the banks till up to 60 per cent in their new road and port projects, the company said.

— Our Bureau

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