IMFA profit plunges 63.6% in Q1

Last Updated: Thu, Aug 01, 2013 09:28 hrs

Ferroalloys manufacturer Indian Metals and Ferro Alloys Ltd (IMFA) posted net profit of Rs 10.07 crore during the April-June period of the current fiscal, 63.6 per cent lower than the year ago period.

During the period, IMFA revenue stood at Rs 306.96 crore , 2.8 per cent up from Rs 298.58 crore in the comparable period of last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) was lesser than 1.8 per cent while exports grew by 2.8 per cent to Rs 248.14 crore.

However, the Bhubaneswar headquartered-firm fared well when compared with the Rs 11.39 crore losses made in January-March 2013. During the first quarter, the company's second power unit (2x60 Mw) was synchronised with the grid.

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