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IFB Industries Ltd has posted impressive financial results for the first quarter of fiscal year 2024-25, showcasing a notable turnaround in performance. The company reported a consolidated net profit of ₹37.54 crore for the quarter ended June 2024. This marks a significant recovery from the net loss of ₹0.62 crore recorded during the same period last year, as per the company’s regulatory filing.
The revenue from operations surged by 16.87% to ₹1,269.16 crore, up from ₹1,085.91 crore in the previous year. This growth was largely fueled by robust performances in its key business segments. Revenue from the home appliances sector increased by 18.6% to ₹1,023.63 crore. Additionally, the engineering segment also showed positive results, with revenue rising by 9.37% to ₹210.21 crore.
Despite the increase in revenue, the company’s total expenses rose by 12.24% to ₹1,222.14 crore. However, the higher revenue helped offset these increased expenses, leading to a substantial profit for the quarter.
IFB Industries’ total income, including other income sources, saw a 16.7% rise, reaching ₹1,276.25 crore. The motor segment contributed ₹16.51 crore, while the steel segment added ₹45.58 crore to the total revenue.
Formerly known as Indian Fine Blanking Ltd, IFB Industries operates through several divisions, including Home Appliances, Fine Blanking & Motor, IFB Automotive, and IFB Agro & Travel Systems. The company’s impressive first-quarter performance highlights its strong market presence and effective business strategies.