IMFA reports INR 199.96 CR Net Profit for H1FY2024 vs INR 151.65 CR in H1FY23
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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.”
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