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Indian Metals & Ferro Alloys Ltd has announced its Q3 FY23 results

2023-04-01 05:24:00 Industry


New Delhi: Indian Metals & Ferro Alloys (IMFA) has posted Rs 10.43 crore in its consolidated profit after tax (PAT) during the December quarter, helped by its fully integrated business model and zero long term debt.

In a statement, IMFA Managing Director Subhrakant Panda said: \"It was a challenging quarter on account of high raw material prices even as finished product prices corrected, and we adjusted output by carrying out pending maintenance activity; however, our fully integrated business model and zero long term debt helped tide us over. Q4 is expected to be noticeably better on account of China\'s reopening which is providing a boost, as well as sharp increase in electricity price in South Africa.\"

Headquartered in Bhubaneswar (Odisha), IMFA is India\'s leading fully integrated producer of value added ferro chrome installed capacity of 284,000 tonnes per annum..

The company has manufacturing complexes in Therubali and Choudwar backed up by captive power generation of 204.55 MW (including 4.5 MW solar) and owns chrome ore mines in Sukinda and Mahagiri.

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