NEW DELHI: Indian Metals & Ferro Alloys Ltd (IMFA) on Tuesday reported a 118 per cent rise in consolidated net profit at Rs 142.58 crore for the quarter ended March 2022.
The company had posted consolidated net profit of Rs 65.40 crore in the year-ago period, IMFA said in a regulatory filing.
The consolidated income of the company during the January-March period increased to Rs 761.46 crore, as against Rs 587.95 crore in the year-ago period.
''The robust performance of FY'22 is a result of steady operations and exceptional realisations for ferro chrome which has enabled us to prepay all long term debt.
''While there are headwinds on account of lockdowns in China and the continuing conflict in Ukraine, we remain confident about healthy margins in the ongoing fiscal on account of our fully integrated operations. Moreover, a very strong balance sheet gives us the wherewithal to embark on the 1,00,000 tpa expansion project in Kalinga Nagar,'' company's Managing Director Subhrakant Panda said.
IMFA is country's leading fully integrated producer of value added ferro chrome with installed capacity of 2,84,000 tonnes per annum.