IMFA Reports Steady Third Quarter Results

Bhubaneswar / Mumbai: Indian Metals & Ferro Alloys Ltd (IMFA), the country’s leading fully integrated producer of ferro chrome, today announced Q3 & 9M FY19 results for the period ended December 31st, 2018.

Commenting on the developments Mr Subhrakant Panda, Managing Director & CEO said: “The quarterly numbers are muted on account of lower production due to scheduled maintenance and lower ferro chrome prices on account of ongoing uncertainty due to various global factors. However, a base has been created and we expect prices to bottom out during the ongoing quarter while demand continues to be stable.”

Highlights of Q3 FY19 vs Q3 FY18

  • Revenue of Rs 392.42 crores vs Rs 483.65 crores
  • Exports of Rs 348.95 crores vs Rs 406.64 crores
  • Net Profit of Rs 34.68 crores vs Rs 74.74 crores

Highlights of 9M FY19 vs 9M FY18

  • Revenue of Rs 1199.72 crores vs Rs 1325.99 crores
  • Exports of Rs 1074.90 crores vs Rs 1128.43 crores
  • Net Profit of Rs 84.91 crores vs Rs 182.03 crores

Operational Highlights of Q3FY19 vs Q3 FY18

  • FeCr production of 60,503 tonnes vs 63,194 tonnes
  • Sales of 52,944 tonnes vs 61,041 tonnes
  • Power generation of 236 MU vs 205 MU

Recent developments

  • 1.5 MWp solar project at Therubali was commissioned

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Upasana Bidika
Upasana Bidika has completed her Master Degree in Law from KIIT School of Law. However she has carved a niche for herself as a journalist. She can be contacted at upasna.bidika@gmail.com