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Indian Metals & Ferro Alloys bullish on spike in ferro chrome prices April 13, 2021 Expects profit in Q4 of FY21 and Q1 of current fiscal Indian Metals & Ferro Alloys Ltd (IMFA) expects a surge in profitability in the fourth quarter of FY21 and the first quarter of the current financial year due a spike in ferro chrome prices. The Odisha-based ₹1,600-crore ferro chrome manufacturer’s profits increased by nearly seven times during the third quarter ended December 31, 2020 at ₹32 crore compared with ₹4 crore in the same period last year following a steady rise in ferro chrome prices. Ferro chrome prices, which were ruling around ₹60,000-65,000 a tonne in September last year, increased to as high as ₹95,000 a tonne in January. The increase in prices in the fourth quarter would augur well for the company, which is an integrated producer of ferro chrome, said Prem Khandelwal, CFO & CS, IMFA.

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