IMFA posts improved results in Q1 FY19

Jul 17, 2018
Internal Press Release

Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome today announced Q1 FY19 results for the period ended June 30th, 2018.

Highlights Q1 FY19 vs Q1 FY18
• Revenue of Rs 412.53 crores vs Rs 426.31 crores
• Exports of Rs 377.97 crores vs Rs 376.84 crores
• Net Profit of Rs 28.74 crores vs Rs 99.92 crores

Highlights of Q1 FY19 vs Q4 FY18
• Revenue of Rs 412.53 crores vs Rs 443.27 crores
• Exports of Rs 377.97 crores vs Rs 378.45 crores
• Net Profit of Rs 28.74 crores vs Rs 4.90 crores

Operational Highlights of Q1FY19 vs Q1 FY18
• Ferro Chrome production of 46,766 tonnes vs 51,798 tonnes
• Sales of 48,580 tonnes vs 48,500 tonnes
• Power generation of 220 MU vs 230 MU

Commenting on the developments Mr Subhrakant Panda, Managing Director & CEO said: “The current quarter numbers reflect improved market sentiments along expected lines. However, an unplanned shutdown at our Therubali unit and ‘mark to market’ provision on foreign currency borrowings affected the bottom line. Long term price finalisation for the ongoing quarter reflects the positive trend in the ferro chrome industry and, although quarter on quarter volatility may persist, we expect to post a good performance overall.”

Mr Jayant Misra, Director (Corporate) & COO added: “We have brought down our output guidance for the year on account of production disruption at our Therubali unit followed by a furnace shell puncture due to the unplanned shutdown. However, all efforts are being made to get back to full normalcy at the earliest.”

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