Home appliances maker IFB Industries today reported 37% decline in net profit at Rs 13.6 crore in the quarter ended March 31, 2011, as against the same period previous fiscal.
The company had a net profit of Rs 21.72 crore in the quarter ended March 31, 2010, IFB Industries said in a filing to the Bombay Stock Exchange.
During the quarter under review, the firm's net sales stood at Rs 162.7 crore, which is a 13.49% increase from Rs 143.35 crore in the year-ago period.
For the year-ended March 31, 2011, the company had a net profit of Rs 50.31 crore, down by 6.4% from the Rs 53.76 crore posted in the year-ago period.
During the year, company's net sales increased by 24.63% to Rs 665.47 crore. In the previous fiscal, its net sales stood at Rs 533.95 crore.
Shares of IFB Industries closed at Rs 140.25 on the BSE, up 3.24% from the previous close.