IFB Inds. slips after dismal Q4 numbers

IFB Industries fell 3.65% to Rs 411.80 after the company reported consolidated net loss of Rs 19.49 crore in Q4 March 2020 as against net profit of Rs 5.53 crore in Q4 March 2019.

Net sales declined 22.4% year-on-year (YoY) to Rs 506.92 crore in the March quarter.

Pre-tax loss in Q4 FY20 stood at Rs 46.45 crore as against a pre-tax profit of Rs 5.39 crore in Q4 FY19.

IFB Industries manufactures fine blanked components, tools and related machine tools like straighteners, decoilers, strip loaders and others. It also makes motors for white goods as well as automotive applications.

 

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