IFL Enterprises Limited has announced its strategic expansion into new business ventures. The company disclosed in an exchange filing that it will be venturing into the international trading of agro commodities, gemstones, and precious metals.
According to the company, “The company is expanding its scope by engaging in international trading of agro commodities, gemstones, and precious metals through its subsidiary in Dubai. This move is aimed at capitalizing on global market opportunities and improving the company’s revenue streams.”
The international trading business is projected to make a significant impact on the company’s financial performance and create a solid foundation for future growth.
As of March 31, 2023, IFL Enterprises reported consolidated assets of Rs 28.50 crores and a net profit of Rs 0.52 crores.
By December 31, 2024, the company’s consolidated assets had increased to Rs 29.06 crores, with a rise in net profit to Rs. 1.52 crores.
