IMFA Q2 PAT jumps over 3-folds to Rs 144 crore

Indian Metals & Ferro Alloys (IMFA) on Tuesday posted an over three-fold jump in its consolidated profit after tax (PAT) at Rs 143.71 crore during the September quarter, mainly on account of higher income.

The company had Rs 43.73-crore PAT during the July-September period of the 2020-21 financial year, IMFA said in a regulatory filing.

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During the quarter under review, the company said its total income rose to Rs 657.97 crore from Rs 453.67 crore a year ago.

Its total expenses were at Rs 454.15 crore as against Rs 396.73 crore in the year ago quarter.

In a statement, IMFA Managing Director Subhrakant Panda said: "In line with other commodity prices, ferro chrome too has been buoyant leading to a record quarter for IMFA in terms of topline and healthy profits."

Headquartered in Bhubaneswar (Odisha), IMFA is India's leading fully integrated producer of value added ferro chrome with capacity of 2.84 lakh tonnes per annum.

The company has manufacturing complexes in Therubali and Choudwar backed up by captive power generation of 204.55 MW (including 4.55 MW solar), and owns chrome ore mines in Sukinda and Mahagiri.