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IMFA expects ferro chrome price correction on sluggish European and Chinese demand

IMFA expects ferro chrome price correction on sluggish European and Chinese demand
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

Prem Khandelwal ,

IMFA Q1 FY22 results boosted by higher FeCr prices

IMFA Q1 FY22 results boosted by higher FeCr prices
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Jayant Misra , Binoy Agarwalla , Prem Khandelwal , Bijayananda Mohapatra , Maj Rn Misra , Indian Metals Ferro Alloys Ltd , Time Zone , Ferro Alloys Ltd , Term Debt , Equity Ratio , Independent Director , Non Executive Chairman , Power Business , Subhrakant Panda , Managing Director , இந்தியன் உலோகங்கள் ஃபெரோ உலோகக்கலவைகள் லிமிடெட் , நேரம் ஸோந் , ஃபெரோ உலோகக்கலவைகள் லிமிடெட் , கால கடன் , பங்கு ரேஶியோ , சுயாதீனமான இயக்குனர் , அல்லாத நிர்வாகி தலைவர் , பவர் வணிக , நிர்வகித்தல் இயக்குனர் ,

Indian Metals & Ferro Alloys bullish on spike in ferro chrome prices

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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