Indian Metals & Ferro Alloys Ltd. (IMFA), India’s leading integrated ferro chrome producer, reported revenue of ₹445.93 crore for Q1 FY20, up from ₹412.53 crore in the corresponding quarter last year. Export revenue also increased to ₹432.28 crore from ₹377.97 crore.
The company posted a profit of ₹10.66 crore during the quarter, compared to ₹28.74 crore in Q1 FY19. However, the performance marked a significant recovery from the loss of ₹73.87 crore recorded in Q4 FY19.
Operationally, ferro chrome production rose to 55,676 tonnes from 46,766 tonnes, while sales increased to 60,612 tonnes from 48,580 tonnes. Power generation stood at 189 million units.
Commenting on the results, Managing Director Subhrakant Panda said the ferro chrome industry continues to face challenges due to global trade tensions, but IMFA’s integrated business model helped it remain profitable. He added that while benchmark prices remain under pressure, the company
