IMFA Q2 FY18 numbers dampened by price volatility
Long Term prices for ongoing quarter settled higher
Oct 24, 2017
Internal Press Release

Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome today announced Q2 & H1 FY18 results for the period ended September 30th, 2017.

Highlights of Q2 FY18 vs Q2 FY17
• Revenue of Rs 416.03 crores vs Rs 387.58 crores
• Exports of Rs 344.94 crores vs Rs 323.70 crores
• Net Profit of Rs 7.37 crores vs Rs 42.31 crores

Highlights of H1 FY18 vs H1 FY17
• Revenue of Rs 842.34 crores vs Rs 640.87 crores
• Exports of Rs 721.78 crores vs Rs 541.12 crores
• Net Profit of Rs 107.29 crores vs Rs 11.96 crores

Operational Highlights of Q2 FY18 vs Q2 FY17
• Ferro Chrome production of 58,413 tonnes, down by 4% from 60,836 tonnes
• Sales of 65,013 tonnes, up 5% from 61,762 tonnes
• Power generation of 254 MU vs 272 MU

Business Highlights
• Contract awarded for another 1.5 MW solar project at the existing site in Therubali.

Commenting on the developments Mr Subhrakant Panda, MD & CEO, IMFA said: Ferro Chrome has been quite volatile and the Q2 FY18 benchmark price was negotiated at a time when sentiments were poor on account of a temporary slowdown in offtake from China. While spot prices bounced back subsequently, we were unable to benefit having already finalised the quarterly contracts. Riding on positive sentiments, the pricing of long term contracts in the ongoing quarter is substantially higher and will yield healthy margins. Furthermore, going ahead we expect prices to move within a relatively narrow band.

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