New Delhi, Jun 29 (PTI) Shares of infrastructure term lender IFCI Ltd on Tuesday declined nearly 6 per cent after the company reported widening of its consolidated net loss to Rs 848.97 crore in the January-March quarter.

The stock dipped 5.37 per cent to close at Rs 14.09 on the BSE. During the day, it declined 6.98 per cent to Rs 13.85.

On the NSE, it went lower by 5.70 per cent to close at Rs 14.05.

IFCI Ltd on Monday reported a widening of its consolidated net loss to Rs 848.97 crore in the January-March quarter due to a fall in income and a change in its accounting policy.

The company had posted a consolidated net loss of Rs 584.19 crore in the corresponding quarter a year ago. Sequentially also, the loss was higher than Rs 717.99 crore in the third quarter ending December.

Total income of the lender during Q4FY21 plunged to Rs 15.76 crore as against Rs 858.99 crore in Q4FY20 and from Rs 610.12 crore in Q3 of the reported fiscal.

For the financial year 2020-21, the company's net loss ballooned to Rs 1,911.58 crore from Rs 223.21 crore in the financial year 2019-20, IFCI Ltd said in a regulatory filing.

Income was also down at Rs 2,093.81 crore as against Rs 2,905.68 crore in 2019-20.

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