IFB Industries on Wednesday (18 March 2020) said it has commenced commercial production to manufacture split air-conditioners from its Goa plant with effect from 17 March 2020.
The scrip was currently down 7.05% at Rs 273, extending losses for fourth day.
The stock has lost 26.19% in four sessions from a recent closing high of Rs 369.90 recorded on 13 March 2020.
The company's consolidated net profit fell 19.9% to Rs 14.83 crore despite a 2.7% rise in net sales to Rs 719.33 crore in Q3 December 2019 over Q3 December 2018.
IFB Industries is engaged in the business of manufacturing of fine blanked components trading of home appliances and steel products. They operate in three segments namely engineering home appliance and others.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content