India’s IMFA reports fivefold rise in net profit for Q2 FY2021-22

Wednesday, 27 October 2021 11:14:24 (GMT+3)   |   Kolkata

Leading chrome ore and ferrochrome producer Indian Metals and Ferro Alloys Limited (IMFA) has reported a net profit of INR 1.43 billion ($19 million) in the second quarter (July-September) of the fiscal year 2021-22, a fivefold increase over the corresponding period of the previous year, a company statement said on Wednesday, October 27.

The company reported total revenues of INR 6.579 billion ($87 million) during the quarter, up 45 percent year on year.

"In line with other commodity prices, ferrochrome has also been buoyant, leading to a record quarter for IMFA in terms of top-line and healthy profits,” IMFA managing director Subhrakant Panda said.

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