India's leading ferrochrome producer Indian Metals & Ferro Alloys has reported a net profit of INR 133.8 crores in April-June 2022 quarter, up 36% YoY, with total revenues of INR 743.4 crores, up 38% YoY. IMFA Managing Director Mr Subhrakant Panda said “Despite weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. We as producers expect margins to sustain in view of correction in input costs and currency devaluation. The company's Balance Sheet is exceptionally good being debt free, and there is more than adequate liquidity to push ahead with our expansion plans to thrive. Even as commodity prices have corrected on the back of continuing uncertainty due to geopolitical developments and weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. Our fully integrated business model coupled with long-term offtake arrangements sets us apart from our peers; going ahead, we expect margins to sustain in view of the correction in input costs and currency devaluation.”April-June 2022 QuarterFeCr Production - 63,760 tonnes, up 9% YoYRevenues of INR 743.4 crore, up 38% YoYExports - 710.5 crore, up 43% YoYEBITDA – INR 224.7 crore, up 27% YoYPAT – INR 133.8 crore, up 36% YoYEstablished in 1961 in the Eastern State of Odisha known for its rich natural resources, IMFA is India’s leading fully integrated producer of value added ferrochrome with 190 MVA installed furnace capacity backed up by 204.55 MW captive power generation capacity (including 4.55 MW solar) and extensive chrome ore mining tracts.
India's leading ferrochrome producer Indian Metals & Ferro Alloys has reported a net profit of INR 133.8 crores in April-June 2022 quarter, up 36% YoY, with total revenues of INR 743.4 crores, up 38% YoY. IMFA Managing Director Mr Subhrakant Panda said “Despite weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. We as producers expect margins to sustain in view of correction in input costs and currency devaluation. The company's Balance Sheet is exceptionally good being debt free, and there is more than adequate liquidity to push ahead with our expansion plans to thrive. Even as commodity prices have corrected on the back of continuing uncertainty due to geopolitical developments and weaker global economic growth, IMFA has posted a robust set of numbers for the first quarter. Our fully integrated business model coupled with long-term offtake arrangements sets us apart from our peers; going ahead, we expect margins to sustain in view of the correction in input costs and currency devaluation.”April-June 2022 QuarterFeCr Production - 63,760 tonnes, up 9% YoYRevenues of INR 743.4 crore, up 38% YoYExports - 710.5 crore, up 43% YoYEBITDA – INR 224.7 crore, up 27% YoYPAT – INR 133.8 crore, up 36% YoYEstablished in 1961 in the Eastern State of Odisha known for its rich natural resources, IMFA is India’s leading fully integrated producer of value added ferrochrome with 190 MVA installed furnace capacity backed up by 204.55 MW captive power generation capacity (including 4.55 MW solar) and extensive chrome ore mining tracts.
