IFB Industries Reports Q4 Net Profit Boosted by Engineering, Home Appliances Sectors

IFB Industries Ltd reported a consolidated net profit of Rs 12 crore for Q4 ending March 31, 2024, aided by robust performance in its engineering and home appliances sectors. This marks a significant turnaround from a net loss of Rs 9.94 crore during the same period last year. Revenue from operations stood at Rs 1,090.20 crore.

IFB Industries Ltd has reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, helped by performance from engineering business and home appliances.

The company had posted a net loss of Rs 9.94 crore for the year-ago period, according to a regulatory filing on Tuesday.

Revenue from operations was at Rs 1,090.20 crore during the quarter. It was Rs 1,010.15 crore in the year-ago period. Total expenses were Rs 1,082.40 crore in March quarter FY24.

Home appliances' revenue was at Rs 831.01 crore during the quarter, while revenue from the engineering segment was Rs 224.67 crore.

Revenue from the 'Motor' segment was at Rs 18.51 crore and Rs 44.07 crore came from steel.

Total income, including other income, was Rs 1,101.64 crore in the quarter.

In FY24, consolidated net profit was at Rs 50.36 crore. Profit was Rs 14.94 crore a year ago. Revenue from operation in the fiscal was Rs 4,437.84 crore.

IFB Industries, earlier known as Indian Fine Blank Ltd, operates through associate companies and divisions -- Home Appliances, Fine Blanking & Motor, IFB Automotive, IFB Agro & Travel Systems.

Shares of IFB Industries were trading at Rs 1,284.85 per scrip on BSE, down 9.03 per cent from the previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)