Monthly ferro chrome output reaches a new high at IMFA

Odisha Channel Bureau Bhubaneswar, Feb 3: Indian Metals & Ferro Alloys (IMFA), India’s leading fully integrated producer of value added ferro chrome, today announced its Q3 & 9M FY15 results for the period ended December 31, 2014.Highlights of Q3 FY15 vs Q3 FY14• Revenue of Rs.292.26 crores vs Rs.364.06 crores• Exports of Rs 227.05 crores vs Rs 286.13 crores• EBIDTA of Rs 47.86 crores vs Rs 85.19 croresHighlights of 9M FY15 vs 9M FY14• Revenue of Rs 941.60 crores vs Rs 993.69 crores• Exports of Rs 734.33 crores vs Rs 808.92 crores• EBIDTA of Rs 177.87 crores vs Rs 233.72 croresBusiness Highlights• Restart of Sukinda Chromite Mines on October 1st, 2014• Highest ever monthly ferro chrome output of 20,522 tonnes in December 2014Commenting on the results Subhrakant Panda, Managing Director & CEO said: “Lower production of ferro chrome during the previous quarter on account of closure of Sukinda Chromite Mines from April-September 2014 had a severe impact besides, of course, the challenging environment in general for the industry.“With mining operations restarting on October 1st, 2014 we have since switched on all the furnaces and recorded the highest ever monthly output in December 2014 which is heartening.“The global demand-supply imbalance is likely to continue for another couple of quarters after which a recovery is likely.We are confident about our integrated business model and the ability to ride out the present conditions,” Panda added.