Producer of value-added ferro chrome, the Indian Metals and Ferro Alloys ltd (IMFA) had a revenue jump by 13 per cent to Rs340.01 crore in its first quarter results for the period ended June 30, 2015.
Similarly, its exports increased by 32 per cent to Rs299.25 crore and profit before exceptional items increased by 81 per cent to Rs7.84 crore.
Commenting on the results, IMFA MD and CEO Subhrakant Panda said, “Output during the quarter was lower on account of major maintenance of the 48 MVA furnace at Choudwar which has since been completed.
However, increase in sales volume and reduction in interest outgo led to higher profit before exceptional items which is commendable under the present circumstances. While results are expected to remain muted in the near term, we are confident about the future given the inherent strength of our integrated business model.”