The Indian Metals and Ferro Alloys ltd (Imfa) announced its Q1 FY17 results for the period ended June 30, 2016 on Tuesday.
The company earned revenue of Rs 250.46 crores in Q1 FY17 compared to Rs 340.01 crore in Q1 FY17 and registered exports of Rs 217.42 crore against Rs 299.25 crore in Q1 last year. Similarly, its EBIDTA before exceptional items stood at Rs 2.78 against 52 crore in corresponding quarter of the last FY.
But when compared to Q4 FY16, the company showed better results in Q1 FY17 under the three heads. In Q1 FY 16, it had registered revenue of Rs 203.86 crore, exports of 173.88 crore and EBIDTA of (-) Rs 27.80 crore.
Similarly, the company registered ferro chrome production of 50,592 tonnes in Q1 FY17 as compared to 46,027 tonnes in Q1 FY16, sales of 51,324 tonnes against 52,005 tonnes and power generation of 220 MU against 212 MU.
The company’s operational performances under these three heads in Q4 FY16 were 30,904 tonnes, 38,101 tonnes and 142 MU, respectively.
Commenting on the results, Imfa MD and CEO Subhrakant Panda said, “Coming out of a very bad year which severely affected financial performance, Q1 FY17 witnessed a turnaround as ferro chrome demand recovered and prices improved. The worst seems to be behind us operational efficiencies have improved compared to the preceding quarter. We are confident of a sustained recovery going ahead.”