02-11-2023 04:53 PM | Source: PR Agency
IMFA reports INR 199.96 CR Net Profit for H1FY2024 vs INR 151.65 CR in H1FY23

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

https://t.me/InvestmentGuruIndiacom

Download Telegram App before Joining the Channel

Indian Metals & Ferro Alloys Ltd (IMFA; estd 1961), the country’s leading fully integrated producer of ferro alloys, announced Q2 FY24 results today for the period ending September 30th, 2023.

Financial Performance

Standalone for Q2 FY 24

Financial Highlights:       

Operational Highlights:

Management Comment

Commenting on the results, Mr. Subhrakant Panda, Managing Director, said "IMFA’s debt-free Balance Sheet and fully integrated business model has helped deliver strong results this quarter in a challenging environment. A focus on long term marketing tie-ups has also been handy at a time when there is a slight degrowth in stainless steel production. Input costs have moderated in general, although a surge in chrome ore cost for non-integrated producers in India is likely to curtail ferro chrome output in the near term which will work to our benefit. We remain sanguine about future prospects as we focus on our ferro chrome expansion project and enhancement of chrome ore output.”

 

Above views are of the author and not of the website kindly read disclaimer