Indian Metals & Ferro Alloys Ltd Sees Profit Rise Despite Revenue Decline

Indian Metals & Ferro Alloys Ltd reported a 7% increase in standalone profit after tax to Rs 117.52 crore for the June 2024 quarter. However, the company's revenues dropped to Rs 662.28 crore from Rs 701.73 crore a year ago, and ferro chrome production fell to 60,976 tonnes.

Indian Metals & Ferro Alloys Ltd (IMFA) on Wednesday announced a near 7% increase in its standalone profit after tax, reaching Rs 117.52 crore for the June 2024 quarter.

This marks an improvement from the Rs 110 crore profit reported in the corresponding quarter of the previous fiscal year, IMFA stated.

Contrary to the profit rise, the firm's revenues declined to Rs 662.28 crore from Rs 701.73 crore a year earlier. Additionally, ferro chrome production decreased to 60,976 tonnes, down from 66,261 tonnes in FY24, while sales also dipped to 63,035 tonnes from 64,695 tonnes in the same period last year.

(With inputs from agencies.)