Jainam Ferro Alloys India Limited (JFAIL) has reported a net profit of INR 15.08 billion ($203 million) during the second quarter (July-September) of the fiscal year 2021-22, up a massive 1,394 percent over the corresponding period of the previous year, a company statement said on Tuesday, November 23.
The company said that total revenues was recorded at INR 90.5 billion ($1.2 billion) during the April-September period, up 151 percent over the corresponding period of the previous year.
JFAIL based in Chhattisgarh state in the central region of Indian operate sub-merged arc furnaces for production of ferroalloys including ferromanganese and silicomanganese and is a major supplier to domestic steel majors like Tata Steel, Jindal Steel and Power Limited and Steel Authority of India Limited.