Indian Metals and Ferro Alloys Limited (IMFA) has reported a net profit of INR 1.25 billion ($14.81 million) for the second quarter (July-September) of the fiscal year 2024-25, a rise of 40 percent year on year, according to a company statement on Tuesday, November 19.
The company achieved total revenue of INR 6.92 billion ($81.99 million) in the given period, almost the same as in the corresponding quarter of the previous fiscal year, indicating that higher net profits came from improved sales margins.
IMFA noted that domestic ferrochrome prices have softened recently, affecting non-integrated producers. Despite this, the company, with access to captive ore and a debt-free balance sheet, was able to maintain its performance.