IMFA Q2 FY 14 revenue at Rs 323 cr, up 14%; EBIDTA increases 27% to Rs 80 cr
Oct 29, 2013
Internal Press Release
Indian Metals & Ferro Alloys (IMFA), India’s leading fully integrated producer of value added ferro chrome, today announced its Q2 FY14 results for the half year ended September 30th, 2013.
Highlights of Q2 FY 14 v/s Q2 FY 13
• Revenue increased 14% to Rs 322.67 crores (Rs 284.13 cr)
• EBIDTA increased 27% to Rs 80.48 crores (Rs 63.41 cr)
• Net profit declined by 35% to Rs 14.12 crores (Rs 21.77 cr)
• Exports increased sharply by 29% to Rs 274.31 crores (Rs 212.70 cr)
Highlights of Q2 FY 14 v/s Q2 FY 13
• Revenue of Rs 629.63 crores vs Rs.582.71 crores
• EBIDTA of Rs 170.21 crores vs Rs 154.77 crores
• Net profit of Rs 24.19 crores vs Rs 50.22 crores
• Exports of Rs 522.75 crores vs Rs 454.11 crores
Business Developments
• Unit 1 of 2x60 MW captive power plant is operating at full
capacity. Unit 2 is under commissioning process and is likely to be
tested in full load in a month’s time
• Augmentation of ancillary facilities at Therubali to restart
existing 48 MVA furnace by end of December 2013, as planned is
on schedule
• Permission of grant order in Utkal Coal Ltd, from
Government of Orissa awaited
Commenting on the results Mr Subhrakant Panda, Managing Director & CEO, IMFA said, “The tough
business environment is reflected in the subdued numbers for the quarter. Though higher depreciation
and interest cost on account of the new 120 MW captive power plant has impacted the numbers, we will
reap the benefit of this investment in the coming quarters. There is a slight recovery underway in the
ferro chrome market and larger volumes going ahead will help us post better results. We remain
confident about the robustness of our business model and inherent competitive strength.”
For any information relating to IMFA Group or to enquire about
a Press Release issued by us please contact:
Mr Kishore Mohan Mohanty
Bhubaneswar
email:
kishoremohanty@imfa.in