IFB Industries Q1 Results: Net loss at Rs 0.62 crore

IFB Industries Ltd on Friday reported a consolidated net loss of Rs 0.62 crore in the first quarter ended June 30. The company had posted a consolidated net profit of Rs 1.90 crore in the April-June quarter a year ago, IFB Industries said in a regulatory filing.

However, its revenue from operations increased 1.73 per cent to Rs 1,085.91 crore during the quarter under review from Rs 1,067.40 crore in the year-ago period. IFB Industries' total expenses were Rs 1,088.83 crore in the first quarter of FY 2023-24.

Its revenue from Home appliances was Rs 863.30 crore, while that of Engineering stood at Rs 192.20 crore. IFB Industries' revenue from the ‘Motor' segment was Rs 16.27 crore, and Rs 37.60 crore from steel.

Shares of IFB Industries Ltd on Friday settled at Rs 867.85 apiece, up 1.89 per cent from the previous close.

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