The Indian Metals & Ferro Alloys ltd (IMFA), a fully-integrated producer of value-added ferrochrome, released the results of its performance of the current Financial Year for the period ended June 30, 2014.
It has produced 12 per cent more ferro chrome and 16 per cent more power in the first quarter (Q1) of the current financial year compared to the corresponding period of last financial year.
However the earnings have headed south while the production figures moved north. Exports are down about 8 percent, gross revenue down by about 2 per cent and Earnings before Interest, Depreciation and Taxes and Ammortisation (EBIDTA) is down a whopping 16 per cent.
Commenting on all these results in a press release here on Friday figures the Managing Director and CEO of IMFA Subhrakant Panda said the suboptimal results are a reflection of the very challenging operating environment which has resulted in lower ferro chrome realisations and cost pressures negating higher production and sales. He expressed optimism that with China coming out of a dip besides better economic environment domestically things are expected to improve.