Indian Metals The company’s revenues additionally trimmed to Rs 701.73 crore from Rs 743.42 crore in the 12 months-in the past sector Indian Metals & Ferro Alloys Ltd (IMFA) on Wednesday posted a 17.80 consistent with cent fall in its internet profit to Rs a hundred and ten crore inside the June 2023 area on lower income.
It had published a internet earnings of Rs 133.Eighty three crore within the yr-ago duration, the organization stated in a assertion.
The business enterprise’s sales also trimmed to Rs 701.73 crore from Rs 743.Forty two crore within the 12 months-in the past sector.
“no matter softening commodity prices, the Q1 FY24 result is robust as we have benefited from decrease input expenses frequently, thermal coal and metallurgical coke.
Indian Metals & Ferro Alloys reports a 17.8% decline in Q1 net profit to Rs 110 crore
Even as there are global headwinds, the ongoing electricity disaster in South Africa, along side stimulus measures to reinforce the chinese language economic system, is predicted to aid the ferrochrome costs,” IMFA coping with Director (MD) Subhrakant Panda said.
The growth challenge in Kalinganagar, Odisha, is on the right track with the general public hearing being performed successfully these days.
IMFA is also in energetic discussions to tie up for hybrid renewable power to meet its requirement for the assignment and comply with more desirable renewable power obligations (RPO), he introduced.
Odisha-primarily based Indian Metals & Ferro Alloys Ltd (IMFA) produces 2.Eighty four lakh tonnes of cost-added ferrochrome in line with annum from its manufacturing complexes in Therubali and Choudwar.
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