ICICI Q1 results: Know how much the loss has reduced:

BUSINESS: IFCI Q1 Results Live: IFCI announced its Q1 results on August 08, 2024, reporting a mixed financial performance. The company’s topline grew an impressive 18.45% year-on-year (YoY), while the net loss narrowed by 24.64% YoY. This shows a significant improvement in the company’s financial health compared to the same period last year. However, the quarterly comparison paints a different picture. Compared to the previous quarter, IFCI’s revenue declined by 27.46%, and the loss widened to 181.16%. This shows that while there has been annual progress, the company faced challenges in the most recent quarter.

On a positive note, selling,

general and administrative (SG&A) expenses saw a significant reduction. These expenses declined by 29.44% quarter-on-quarter (q-o-q) and by 8.04% year-on-year. This reduction in SG&A expenses suggests that the company is becoming more efficient in managing its operating costs. IFCI’s operating income also showed mixed results. While it was a notable decline of 90.05% quarter-on-quarter, it increased significantly by 106.82% year-on-year. This shows that despite short-term setbacks, the company’s core operations have improved significantly compared to the previous year. Earnings per share (EPS) for Q1 is ₹-0.44, down 4.34% year-on-year. This decline in EPS highlights the company’s ongoing challenges in achieving profitability. In terms of stock performance, IFCI has delivered varying returns. In the past week, the stock has seen a negative return of -10.38%. However, in the last 6 months the company has delivered a positive return of 15.07% and an impressive year-to-date (YTD) return of 157.56%, which

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