Ideaforge Technology Share Price Slides 5% Even As Q1 Net Loss Narrows, Revenue Soars

Ideaforge Technology Ltd.'s stock slumped 5% to Rs 852.90 at open on Tuesday, even as the company's net loss for the first quarter of fiscal 2027 narrowed, and revenue surged multifold. 

ALSO READ: Bharat Forge Q1 Review: Brokerages See Transitory Pressure, Back Growth Despite Forecast Cut — Check Target Price

The company reported a 434.4% year-on-year rise in revenue to Rs 68.5 crore from Rs 12.8 crore for the June quarter. The company's net loss narrowed to Rs 2.6 crore from a loss of Rs 23.6 crore in the corresponding quarter last year. 

The share price has risen 82% year-to-date and 85.86% in the last 12 months. Both analysts tracking the company on bloomberg have a 'buy' call on the stock. The 12-month consensus target price of Rs 875 implies an upside of 2%. 

ALSO READ: Macquarie Hikes Zydus Lifesciences' Target Ahead Of Q1 Results; Bets On New Business Buildout To Drive Growth

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.