January 30, 2018

Odisha Channel Bureai
Bhubaneswar: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome, has announced Q3 & 9M FY18 results for the period ended December 31st, 2017.
Highlights of Q3 FY18 vs Q3 FY17
• Revenue of Rs 483.65 crores vs Rs 462.00 crores
• Exports of Rs 406.64 crores vs Rs 381.93 crores
• Net Profit of Rs 74.74 crores vs Rs 63.87 crores

Highlights of 9M FY18 vs 9M FY17
• Revenue of Rs 1325.99 crores vs Rs 1102.87 crores
• Exports of Rs 1128.43 crores vs Rs 923.05 crores
• Net Profit of Rs 182.03 crores vs Rs 75.83 crores

Operational Highlights of Q3 FY18 vs Q3 FY17
• Ferro Chrome production of 63,194 tonnes vs 64,641 tonnes
• Sales of 61,041 tonnes vs 64,034 tonnes
• Power generation of 205 MU vs 284 MU

Business Highlights
• Project work for additional 1.5 MW solar power plant at Therubali is in progress
• Underground mines development on track to sustain and eventually enhance ore raising
• Evaluating stressed asset opportunities

Commenting on the developments, Subhrakant Panda, Managing Director & CEO said: “Improved realisations due to higher benchmark price for the third quarter have had a positive impact. While our fully integrated business model is very resilient, it is obviously not immune to price volatility.”

“In this context, while contract prices for the ongoing fourth quarter have settled lower, we see strength in spot prices which suggests a trend reversal going ahead. Moreover, we believe ferro chrome pricing is likely to move in a narrow range over the next several quarters with sustained demand and a strong Rand helping prices,” he added.

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