IL & FS records over Rs 22,000 crore loss in 2019
5 years, 1 month ago

IL & FS records over Rs 22,000 crore loss in 2019

India TV News  

Crisis-ridden IL&FS on Wednesday reported a net standalone loss of Rs 22,527 crore for the financial year 2018-19, compared to a net profit of Rs 333 crore during the previous year. The company posted total revenue of Rs 824 crore during the period under review, as against Rs 1,734 crore in the previous year, it said. As on March 31, 2019, total assets of the company stood at Rs 4,148 crore, as against Rs 23,868 crore as on March 31, 2018, while total liabilities by the end of FY 2018-19 stood at Rs 21,083 crore, as against Rs 18,276 crore a year ago. IL&FS started making headlines after it started defaulting on its commercial papers last year, and resultant investigations have suggested massive misgovernance and corrupt practices by members of the erstwhile management.

Crore Loss  previous  stood  total  il  started  fs  2019  revenue  net  read  company  22000  crore  loss  records  rs

History of this topic

FPI inflows into Indian equities drop sharply in 2024; rebound anticipated in 2025
3 weeks ago

FPI inflows into Indian equities drop sharply in 2024; rebound anticipated in 2025

Live Mint  

New Delhi, Dec 25 After a robust 2023, foreign investors significantly scaled back their investments in Indian equities in 2024, with net inflows amounting to over ₹5,000 crore, as elevated domestic valuations, coupled with geopolitical uncertainties prompted investors to adopt a more cautious stance. As of now, foreign portfolio investors have made a net investment of over ₹5,052 crore in …

FPIs Turn Net Sellers; Withdraw Rs 13,400 Crore From Equities In August
5 months ago

FPIs Turn Net Sellers; Withdraw Rs 13,400 Crore From Equities In August

News 18  

After infusing money during the last two months, foreign investors have turned net sellers as they pulled out over Rs 13,400 crore from Indian equities in August so far due to unwinding of the yen carry trade and recession fears in the US. So far this year, FPIs have made a net investment of Rs 22,134 crore in equities, data …

FPIs return to Indian equities with ₹24,454 cr inflow in Dec first week
5 months, 2 weeks ago

FPIs return to Indian equities with ₹24,454 cr inflow in Dec first week

Live Mint  

New Delhi, Dec 8 After heavy selling in the past two months, foreign investors have staged a strong comeback to Indian equities with a net investment of ₹24,454 crore in the first week of December amid stabilising global conditions and expectations of potential US Federal Reserve rate cuts. This revival follows significant outflows in the preceding months, with foreign portfolio …

FPIs Withdraw Rs 325 Crore From Indian Equities So Far In April
9 months, 1 week ago

FPIs Withdraw Rs 325 Crore From Indian Equities So Far In April

News 18  

FPIs have turned cautious as they pulled out Rs 325 crore from Indian equities in the first week of this month owing to relatively high valuations and the upcoming general elections. Going ahead, Geojit Financial Services Chief Investment Strategist VK Vijayakumar said the US 10-year yield has spiked to 4.4 per cent, which will impact FPI investment flows into India …

Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA
2 years ago

Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA

News 18  

The government will peg its fiscal deficit in the FY2024 Budget Estimates at 5.8 per cent of the GDP, a healthy moderation from the 6.4 per cent of GDP projected for FY2023, according to a report by ratings agency ICRA. Aditi Nayar, chief economist and head of ICRA, said, “With a global growth slowdown looming large, the FY2024 Union Budget …

FPI inflows hit 20-month high of Rs 51,200 crore in August
2 years, 4 months ago

FPI inflows hit 20-month high of Rs 51,200 crore in August

Firstpost  

This was the highest investment made by foreign investors since December 2020, when they had infused a net Rs 62,016 crore in equities New Delhi: Foreign investors have pumped in a little over Rs 51,200 crore into the Indian equity markets in August, making it the highest inflow in 20 months, amid improving risk sentiment and stabilisation in oil prices. …

FPI Inflows Hit 20-Month High of Rs 51,200 Crore in August
2 years, 4 months ago

FPI Inflows Hit 20-Month High of Rs 51,200 Crore in August

News 18  

Foreign investors have pumped in a little over Rs 51,200 crore into the Indian equity markets in August, making it the highest inflow in 20 months, amid improving risk sentiment and stabilisation in oil prices. Arpit Jain, Joint Managing Director at Arihant Capital Markets, said inflation, dollar prices and interest rate will dictate FPI flows. Jain said correction in Indian …

FPIs Return to Indian Equities; Invest Rs 1,100 Crore in July
2 years, 5 months ago

FPIs Return to Indian Equities; Invest Rs 1,100 Crore in July

News 18  

The relentless selling by foreign investors appears to have taken a breather as they have turned net buyers so far this month with an investment of nearly Rs 1,100 crore in the Indian equity market. This was the highest net outflow since March 2020, when they had pulled out Rs 61,973 crore from equities, data with depositories showed. According to …

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos
2 years, 11 months ago

Stocks to Watch: SBI, Coal India, Future Retail, Eicher Motors, telcos

Live Mint  

NEW DELHI: Here are the top 10 stocks that could be in focus on Monday: State Bank of India: The country's largest lender expects to recover around ₹8,000 crore from written-off accounts, including from NCLT resolved cases, in the current fiscal ending 31 March. Future Retail: Lenders to Future group have agreed to halt the sale of Future Retail Ltd’s …

Budget 2022: FY23 disinvestment receipts pegged at Rs 65K cr; receipts for current year cut to Rs 78K cr
2 years, 11 months ago

Budget 2022: FY23 disinvestment receipts pegged at Rs 65K cr; receipts for current year cut to Rs 78K cr

India TV News  

Highlights The big-ticket disinvestment of Life Insurance Corporation is in the works The government has missed the disinvestment target for three consecutive years In 2020-21, the government had mopped up Rs 37,897 crore The government's receipt from disinvestment proceeds in the next financial year beginning April has been pegged at Rs 65,000 crore, lower than the current year's estimated mobilisation …

GDP growth, fiscal deficit, disinvestment & others: Five key numbers to watch out for in Budget 2022-23
2 years, 11 months ago

GDP growth, fiscal deficit, disinvestment & others: Five key numbers to watch out for in Budget 2022-23

India Today  

Amid the third wave of coronavirus, Union finance minister Nirmala Sitharaman is all set to lay out the country’s economic growth plan in the upcoming Budget on February 1. However, the latest estimate shows the growth will bounce back by 9.2 per cent in the ongoing financial year compared to the last year. After a gap of two years, the …

FPIs Pumped in Rs 60,094 Crore in December So Far
4 years ago

FPIs Pumped in Rs 60,094 Crore in December So Far

News 18  

Foreign portfolio investors have pumped in a net Rs 60,094 crore into Indian markets in December so far amidst optimism in the global markets. The total net investment during the period under review stood at Rs 60,094 crore. "New investments were placed on-hold ahead the event risk, this positive outcome triggered optimism in the global equity market, in anticipation of …

IL&FS Misses Debt Resolution Target by Rs 7,300 Crore in Q2 of FY21
4 years, 2 months ago

IL&FS Misses Debt Resolution Target by Rs 7,300 Crore in Q2 of FY21

News 18  

Debt-laden Infrastructure Leasing and Financial Services Group, which had earlier estimated to address debt of around Rs 8,800 crore in the second quarter of FY21, on Saturday said it has been able to address debt of just around Rs 1,460 crore during the period due to COVID-19 related delays. “As compared to the previous update, the Rs 7,300-crore shortfall in …

IL&FS Transportation Incurs Rs 17,000 cr Standalone Loss in FY20
4 years, 7 months ago

IL&FS Transportation Incurs Rs 17,000 cr Standalone Loss in FY20

News 18  

IL&FS Transportation Networks, a group company of the troubled IL&FS Group, on Friday reported a standalone loss of Rs 17,000.32 crore for fiscal year 2019-20, amid COVID-19 disruptions. The company had clocked a standalone profit of Rs 251.76 crore during the fiscal 2018-19, it said in a regulatory filing. During the last fiscal, the company saw a sharp decline in …

IL&FS to address major portion of outstanding debt by July, says Uday Kotak
5 years ago

IL&FS to address major portion of outstanding debt by July, says Uday Kotak

Live Mint  

IL&FS Group is working towards addressing a 'significant portion' of the outstanding debt of ₹94,000 crore by July 2020, its chairman Uday Kotak said on Tuesday. "He said the group has received binding bid for Chinese road asset that will resolve nearly ₹1,600 crore debt and additional ₹980 crore towards equity value for the shareholding entity. The group has sold …

IL&FS approaches NCLAT seeking release of Rs 145 cr held by Gujarat discom
5 years, 3 months ago

IL&FS approaches NCLAT seeking release of Rs 145 cr held by Gujarat discom

India TV News  

Debt-ridden firm IL&FS has approached the National Company Law Appellate Tribunal seeking the release of around Rs 145 crore held by Gujarat Urja Vikas Nigam. A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has issued a notice to the Gujarat Urja Vikas Nigam over the IL&FS plea. According to senior advocate Ramji Srinivasan appearing for IL&FS, the …

IL&FS receives bids of Rs 13,000 crore for 10 road assets
5 years, 4 months ago

IL&FS receives bids of Rs 13,000 crore for 10 road assets

India TV News  

Crisis-ridden infrastructure financing major IL&FS has received binding financial offers totalling nearly Rs 13,000 crore for 10 of its domestic road assets. In addition to this, the IL&FS Group entities continue to hold rights to receive claims with gross value of over Rs 1,900 crore filed with various concession authorities in respect of these assets. "The combined value of bids …

IndusInd Bank Q4 profit plunges 62% to Rs 360 cr; lender's Rs 3,004-cr exposure to IL&FS takes toll
5 years, 7 months ago

IndusInd Bank Q4 profit plunges 62% to Rs 360 cr; lender's Rs 3,004-cr exposure to IL&FS takes toll

Firstpost  

During the quarter, IndusInd Bank made a provisioning of Rs 1,253 crore towards IL&FS Group. Mumbai: IndusInd Bank on Wednesday reported a 62 percent fall in net profit at Rs 360 crore for the March quarter 2018-19 due to higher provisioning for loans extended to IL&FS. The private sector lender has a total exposure of Rs 3,004 crore to IL&FS …

IL&FS Mutual Fund pays ₹314 crore to debt fund investors
5 years, 8 months ago

IL&FS Mutual Fund pays ₹314 crore to debt fund investors

Live Mint  

IL&FS Mutual Fund Tuesday paid ₹314 crore to investors in one of its infrastructure debt fund, making on-time redemption, according to a release. The money was paid to investors in IL&FS Mutual Fund's first debt fund series -- IL&FS Infrastructure Debt Fund Series 1-A -- that is due Tuesday. Two funds in the same series -- IL&FS Infrastructure Debt Fund …

FPI outflow at Rs 83,000-cr in 2018 on crude price rise, rupee depreciation
6 years ago

FPI outflow at Rs 83,000-cr in 2018 on crude price rise, rupee depreciation

India TV News  

Overseas investors pulled out over Rs 83,000 crore from the capital markets in 2018, after pouring in a record Rs 2 lakh crore in the preceding year, on the back of rate hikes in the US, rise in global crude prices and rupee depreciation. Foreign portfolio investors made a net withdrawal of about Rs 83,146 crore from the Indian markets …

More IL&FS defaults in store as subsidiaries face cash crunch
6 years, 1 month ago

More IL&FS defaults in store as subsidiaries face cash crunch

Live Mint  

Mumbai: More defaults by stressed financier Infrastructure Leasing and Financial Services and its subsidiaries are a distinct possibility as several entities within the group are facing operational cash gaps till 31 March, according to the latest progress report from the company. In the Second Report on Progress and Way Forward, submitted to the National Company Law Tribunal in Mumbai on …

Single solution for IL&FS crisis, debt not possible, NCLT told
6 years, 1 month ago

Single solution for IL&FS crisis, debt not possible, NCLT told

Live Mint  

Mumbai: In its latest status report to the National Company Law Tribunal, the new board of Infrastructure Leasing and Financial Services has said that finding a single solution for the IL&FS crisis and its ₹ 91,000 crore of debt is not possible. The only options left, the IL&FS board said, was hiving off and selling entire business verticals to willing …

IL&FS crisis: 10 group firms to be up for sale
6 years, 1 month ago

IL&FS crisis: 10 group firms to be up for sale

Live Mint  

New Delhi: Eight to 10 subsidiaries of Infrastructure Leasing and Financial Services Ltd will be up for sale shortly as its state-appointed board of directors explores a turnaround scheme involving the sale of group companies. The planned sale indicates IL&FS is now going full steam in monetising key group entities, which are not able to service debt as part of …

IL&FS: Emerging India's very own robber baron'
6 years, 3 months ago

IL&FS: Emerging India's very own robber baron'

Deccan Chronicle  

India is deservedly an “emerging market”. Just like in China, where public entities boost private profits, the Life Insurance Corporation of India, a public sector insurer, with assets in excess of Rs 25 trillion, chose to become IL&FS’ equity investor with a 25.3 per cent share. In it’s heyday, IL&FS was a private company with chutzpah — the darling of …

IL&FS asset sale plan hangs in the balance
6 years, 3 months ago

IL&FS asset sale plan hangs in the balance

Live Mint  

Mumbai: The government’s move to supersede the board of Infrastructure Leasing and Financial Services Ltd and order a probe has clouded the view as to when the debt-laden lender would be able to proceed with its capital-raising, restructuring and asset monetization plans. IL&FS had already received concrete offers for several of its assets, which include road projects housed under group …

Govt pledges liquidity support to IL&FS group
6 years, 3 months ago

Govt pledges liquidity support to IL&FS group

Live Mint  

New Delhi: After moving the National Company Law Tribunal to replace the board of distressed investment firm Infrastructure Leasing & Financial Services Ltd. with a state appointed one, the government on Monday said the company would be provided liquidity support while a turnaround plan was executed. “The government stands fully committed to ensure that needed liquidity is arranged for IL&FS …

IL&FS to raise ₹15000 crore, hike borrowing limit to ₹35000 crore
6 years, 3 months ago

IL&FS to raise ₹15000 crore, hike borrowing limit to ₹35000 crore

Live Mint  

Mumbai: Infrastructure Leasing & Financial Services Ltd, whose recent debt defaults sparked concern about contagion in the financial markets, secured a lifeline after shareholders approved its plans to raise money through debt and equity. Stockholders green-lit IL&FS’s plans to raise as much as ₹ 15,000 crore through a non-convertible debt issue, hike the firm’s borrowing limit by 40% to ₹ …

IL&FS crisis: Take a knife to India’s busted Macquarie clone
6 years, 3 months ago

IL&FS crisis: Take a knife to India’s busted Macquarie clone

Live Mint  

When even a 24-year-old Indian entrepreneur has no difficulty raising $1 billion in a day from global investors, it’s easy to forget that it wasn’t always like this. The $25 million that IL&FS arranged in 1997 via floating-rate notes — guaranteed by USAID and sold to Bear Sterns & Co. — illustrates the chutzpah that sank the firm. Let New …

Cash-strapped IL&FS Financial Services declares 7 fresh defaults of Rs 395 cr
6 years, 3 months ago

Cash-strapped IL&FS Financial Services declares 7 fresh defaults of Rs 395 cr

Firstpost  

New Delhi: IL&FS Financial Services Thursday said it has defaulted on seven fresh payment obligations worth Rs 395.46 crore. These defaults were in respect of five bank loans totalling Rs 239.50 crore, term deposit obligation of Rs 103.53 crore and short-term deposit worth Rs 52. These defaults were in respect of five bank loans totalling Rs 239.50 crore, term deposit …

IL&FS Financial Services declares fresh defaults of ₹395 crore
6 years, 3 months ago

IL&FS Financial Services declares fresh defaults of ₹395 crore

Live Mint  

New Delhi: IL&FS Financial Services on Thursday said it has defaulted on seven fresh payment obligations worth ₹ 395.46 crore. These defaults were in respect of five bank loans totalling ₹ 239.50 crore, term deposit obligation of ₹ 103.53 crore and short term deposit worth ₹ 52.43 crore. In bank loan repayments, it defaulted on ₹ 100.60 crore and ₹ …

IL&FS crisis: Eight charts present financials, other details of cash-strapped infrastructure conglomerate
6 years, 3 months ago

IL&FS crisis: Eight charts present financials, other details of cash-strapped infrastructure conglomerate

Firstpost  

The IL&FS has come under the scanner of multiple regulators, including SEBI, for alleged defaults related to financial disclosures and corporate governance. IL&FS, which is credited for building the longest tunnel in the country, is sitting on a debt pile of around Rs 91,000 crore with IL&FS alone having nearly Rs 35,000 crore, IL&FS Financial Services Rs 17,000 crore, and …

IL&FS, 40 of its subsidiaries move National Company Law Tribunal seeking to restructure debt
6 years, 3 months ago

IL&FS, 40 of its subsidiaries move National Company Law Tribunal seeking to restructure debt

Firstpost  

In a letter to its employees, IL&FS had claimed that if funds worth Rs 16,000 crore stuck with concession authorities were released on time, it would not have landed in this mess. Infrastructure Leasing & Financial Services Limited, an Indian infrastructure development and finance company, which has defaulted on a series of interest payments, has along with its subsidiaries moved …

Rise and fall of IL&FS: A bailout is a blunder; India's debt trapped infra financiers are walking on a minefield
6 years, 3 months ago

Rise and fall of IL&FS: A bailout is a blunder; India's debt trapped infra financiers are walking on a minefield

Firstpost  

Whatever the final outcome, IL&FS will never be the same institution again. Regulators – the Reserve Bank of India and the Securities & Exchange Board of India – and the State Bank of India have made reassuring noises about the ‘temporary’ nature of its liquidity problems, and asset managers at some large mutual funds have suggested that there’s nothing to …

IL&FS crises deepens, financial services arm defaults on CP
6 years, 3 months ago

IL&FS crises deepens, financial services arm defaults on CP

Live Mint  

Mumbai: For the third time in a month, crippled infrastructure conglomerate IL&FS Financial Services Monday defaulted on interest payments on commercial papers. Last Friday, its managing director and chief executive Ramesh C Bawa and some key board members had resigned amid crisis in the IL&FS group for alleged defaults in loan payments and corporate governance issues. Earlier this month, it …

IL&FS independent of govt; capable of handling its issues: Economic affairs secretary Subhash Chandra Garg
6 years, 3 months ago

IL&FS independent of govt; capable of handling its issues: Economic affairs secretary Subhash Chandra Garg

Firstpost  

New Delhi: Infrastructure Leasing & Financial Services, which has defaulted on a series of interest payments, needs to resolve issues on its own, Economic Affairs Secretary Subhash Chandra Garg said. On 4 September, it came to light that IL&FS had defaulted on a short-term loan of Rs 1,000 crore from Sidbi, while a subsidiary has also defaulted on Rs 500 …

IL&FS rot needs to be stopped from spreading
6 years, 3 months ago

IL&FS rot needs to be stopped from spreading

Live Mint  

A tad late, but the message is finally reaching India’s regulators: Infrastructure lender IL&FS is not a business that can be allowed to fail without consequences. Some of the group’s finance companies are now missing repayments on short-term paper, even as the unlisted parent’s owners, including state-run Life Insurance Corp. of India, dawdle over an emergency infusion of funds. The …

IL&FS plans fire sale of financial services unit
6 years, 3 months ago

IL&FS plans fire sale of financial services unit

Live Mint  

Mumbai/New Delhi: Infrastructure Leasing and Financial Services Ltd is planning to sell a majority stake in its financial services unit and additional assets worth ₹ 4,500 crore to pay down debts as the company rushes to meet its obligations and avoid bankruptcy. IL&FS has also asked the government to clear dues worth as much as ₹ 16,000 crore for work …

IL&FS plans to divest assets, cut debt by up to ₹30,000 crore
6 years, 4 months ago

IL&FS plans to divest assets, cut debt by up to ₹30,000 crore

Live Mint  

Mumbai: Debt-saddled infra lender IL&FS on Wednesday said its board has approved the ₹ 4,500-crore rights issue and it plans to reduce its loan burden by up to ₹ 30,000 crore by divesting assets in the next 18 months. In a statement, the company said its board has approved “a rights issue of 30 crore equity shares at ₹ 150 …

Foreign Portfolio Investors' net inflow at Rs 2,300-cr in July
6 years, 5 months ago

Foreign Portfolio Investors' net inflow at Rs 2,300-cr in July

India TV News  

Foreign investors poured in over Rs 2,300 crore in the Indian capital markets in July, after pulling out funds for three months in a row, largely due to expectations of a lower trade deficit following a correction in crude oil prices. The latest inflow comes after such investors had taken out more than Rs 61,000 crore from the capital markets …

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