IFB Industries Q1 Profit Up 37.54 Cr, Revenue Rises 16.9% - Business News

New Delhi, Jul 27 (PTI) IFB Industries Ltd on Saturday reported a consolidated net profit of Rs 37.54 crore for the first quarter ended in June 2024, helped by the engineering and home appliances business.

The company had posted a consolidated net loss of Rs 0.62 crore in the April-June quarter a year ago, according to a regulatory filing from IFB Industries.

Its revenue from operations was up 16.87 per cent to Rs 1,269.16 crore during the quarter under review. It was Rs 1,085.91 crore in the year-ago period. Total expenses of IFB Industries in the June quarter were up 12.24 per cent to Rs 1,222.14 crore.

IFB Industries' revenue from home appliances was up 18.6 per cent to Rs 1,023.63 crore in Q1 of FY 2024-25. Revenue from the engineering segment was up 9.37 per cent to Rs 210.21 crore. Revenue from the ‘motor' segment was at Rs 16.51 crore and Rs 45.58 crore from steel.

Its total income, which includes other income, in the June quarter was up 16.7 per cent to Rs 1,276.25 crore.

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