IMFA’s Q2 FY15 turnover increases 8% y-o-y

IMFA-logo_colourBhubaneswar: Indian Metals & Ferro Alloys (IMFA), India’s leading fully integrated producer of value-added chrome, today announced its Q2 & H1 FY15 results for the period ended September 30th, 2014.

Highlights of Q2 FY15 vs Q2 FY14
• Revenue of Rs 348 crores vs Rs 323 crores
• Exports of Rs 281 crores vs Rs 274 crores
• EBIDTA of Rs 66 crores vs Rs 87 crores

Highlights of H1 FY15 vs H1 FY14
• Revenue of Rs 649 crores vs Rs 630 crores
• Exports of Rs 507 crores vs Rs 523 crores
• EBIDTA of Rs 130 crores vs Rs 168 crores

Business Highlights
• Refinancing of Rs 430 crores term loan for 120 MW captive power plant completed; interest outgo will reduce.
• Environmental Clearance for Sukinda Mines received valid upto March 31st, 2026 and mining operations restarted.
Commenting on the results Mr Subhrakant Panda, Managing Director & CEO said: “The ferro chrome industry is currently facing a challenging environment due to rising costs coupled with lower prices. While the key lies in a sustained economic recovery, the robustness of our integrated business model places us at a significant advantage to our peers and we expect to benefit from improved business sentiments going ahead.”

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OdishaInc Bureau