IFB Industries Ltd reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, a significant improvement from the net loss of Rs 9.94 crore in the same period last year. According to a regulatory filing on Tuesday, this positive turnaround is attributed to robust performances in both the engineering and home appliances segments.
The company's revenue from operations during the quarter reached Rs 1,090.20 crore, compared to Rs 1,010.15 crore in the corresponding period of the previous year. Total expenses for the March quarter FY24 amounted to Rs 1,082.40 crore.
Breaking down the revenue contributions, the home appliances segment generated Rs 831.01 crore, while the engineering segment contributed Rs 224.67 crore. The 'Motor' segment also reported revenue of Rs 18.51 crore and the steel segment brought in Rs 44.07 crore.
The quarter's total income, including other income, stood at Rs 1,101.64 crore.
For the full fiscal year 2024, IFB Industries achieved a consolidated net profit of Rs 50.36 crore, marking a significant financial recovery and growth compared to previous years.
This strong financial performance highlights IFB Industries' strategic focus and operational efficiency, especially in its core segments. As the company continues to innovate and expand its product offerings, it is well-positioned for sustained growth in the coming quarters.
