Kolkata-based IFB Industries reported an over 35 per cent dip in net profit to the tune of ₹11 crore for the period ending June 30 this year. Net profit stood at ₹17 crore in the year-ago period.
An increase in expenses by over 26 per cent to ₹341 crore (for the April to June period) over the ₹270 crore in the same period last year dragged down profits.
Total income during the period, however, increased by nearly 21 per cent to ₹352 crore. It stood at ₹291 crore in the first quarter of FY14.
Segment results
While the home appliances segment reported a revenue of ₹290 crore; the engineering division reported ₹62 crore (revenues).
Profit — earnings before interest and tax (EBIT) — in the home appliances segment stood at ₹12 crore. For the engineering segment, EBIT stood at ₹4 crore.
Published on August 1, 2015
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