BackFTIL Q2 profit at `327 crore
The company booked a gain of Rs851 crore on sale of its holding in MCX during the second quarter
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New Delhi: Financial Technologies India Ltd (FTIL) has reported a standalone net profit of 327 crore for the quarter ended 30 September.
The profit for the corresponding quarter of the previous financial year was 27 crore.
According to a statement issued by FTIL, the company booked a gain of 851 crore on sale of its holding in Multi Commodity Exchange of India Ltd (MCX) in the quarter.
The statement further added that the company has appointed Amarchand and Mangaldas and Suresh A. Shroff and Co. as its principal law firm.
“FTIL, being aggrieved by the draft order and the proposed forced amalgamation, the company, along with a few shareholders, has filed a writ petition before the honourable Bombay high court, under Article 226 of the Constitution of India, inter alia challenging the issuance of the draft order and/or any forced amalgamation as proposed or howsoever," said the statement.
The quarter also saw the company making provisions towards other than temporary diminution in value of investments to the tune of 588 crore.
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