IFB Industries reported disappointing results for Q3FY18 with sales increasing by mere 9.4 percent yoy to Rs 549.4 crore from Rs502.1 cr in Q3FY17. Operating profit grew by 17 percent to Rs36.2cr from Rs30.9 crore in Q3FY17, while EBITDA margin improved to 6.6 percent in Q3FY18 from 6.2 percent in Q3FY17. Net profit during the quarter increased by 12.3 percent yoy to Rs17.3 crore vs. Rs 15.4 crore in Q3FY17.
Increase in operating profit is mainly due to the absence of excise duty in Q3FY18, adjusting for which the operating profit has decreased by 51.6 percent yoy.
Sales of home appliances segment (~79 percent of Q3FY18 sales) grew by 4.9 percent yoy to Rs435.8cr in Q3FY18. EBIT margin for the segment declined from 5.1 percent in Q3FY17 to 4.8 percent in Q3FY18.
Sales of engineering segment (17.5 percent of Q3FY18 sales) grew by 16.5 percent yoy to Rs95.9cr in Q3FY18. EBIT margin for the segment also increased from 6.6 percent in Q3FY17 to 11 percent in Q3FY18. – India Info Line