IFB Industries Ltd. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 30, 2014 at 06:40 pm IST
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IFB Industries Ltd. announced unaudited earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported net sales of INR 2,733.4 million against INR 2,633.1 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 106.7 million against INR 135.8 million a year ago. Profit from ordinary activities before tax was INR 114.8 million against INR 163.8 million a year ago. Net profit was INR 88.4 million against INR 119.9 million a year ago. Diluted earnings per share before and after extraordinary items were INR 2.18 against INR 2.96 a year ago.
For the nine months, the company reported net sales of INR 7,309.3 million against INR 6,867.8 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 124.1 million against INR 313.6 million a year ago. Profit from ordinary activities before tax was INR 165.2 million against INR 385.4 million a year ago. Net profit was INR 125.0 million against INR 273.6 million a year ago. Diluted earnings per share before and after extraordinary items were INR 3.09 against INR 6.98 a year ago.
IFB Industries Limited is an India-based engineering company. The Company is engaged in the business of manufacturing diverse parts and accessories for motor vehicles and manufacture and trading of home appliances products. The Companyâs product range includes fine blanked components, tools, and related machine tools, such as straighteners, decoilers, strip loaders and others. Its washing categories include front loaders, top loading washing machines, clothes dryers and dishwashers, and dish washing and laundry equipment. Its kitchen appliances category includes products like chimneys, hobs, and built-in ovens. Its engineering divisions are located in Kolkata and Bangalore. Its accessories include cover, cut out, Aqua Appliance, iQ Wifi Smart Control for IFB Air Conditioners, Stacking Mount Unit, IVS 1454A, and IVS 1455A. It serves various customers, including hotels, restaurants, hospitals, government establishments, corporates, and educational institutions.