Bhubaneswar : Indian Metals & Ferro Alloys Ltd (IMFA), the country’s leading fully integrated producer of ferro alloys, announced Q3 FY24 results Tuesday for the period ending December 31st 2023.

The company reported a net profit of Rs.107.87 crore from a revenue of Rs 685.27 crore in Q3 of FY24.

During the period the Company reported 65,676 tonnes of Ferro Chrome production and sales of 65,676 tonnes. The power generation is Million Units) 299 million units. The Chrome Ore raising is 147,392 tonnes.

Commenting on the Q3 results, IMFA MD Subhrakant Panda, said: “The third quarter earnings numbers are creditable in a difficult global environment where stainless steel demand has been muted and ferro chrome prices have softened, though costs have come down significantly too. The moderation in the Chinese economy has had an impact across the commodities spectrum but we do not expect any further downside. Raising of chrome ore is on track to cross 0.6 million tonnes during the year for the first time with a further hike in FY25, and we are looking to tie up hybrid renewable power for our expansion project which will reduce our carbon footprint. We remain confident of superior performance on account of our fully integrated business model and long term debt free Balance Sheet, and shall increase smelting capacity to take advantage of the available resource base.”

Financial Performance

Standalone for Q3 FY 24

Q3 FY24RevenueEBITDAEBITDA MarginPATPAT MarginEPSExports
 685.27 cr 167.87 cr24.50% 107.87 cr15.74% 19.99 649.82 cr

Financial Highlights:                                                                                                                            ( in cr)

Performance indicatorsQ3 FY24Q2 FY24Q3 FY23YTD Dec’23YTD Dec’22

Operational Highlights:

Performance indicatorsQ3 FY24Q2 FY24Q3 FY23YTD Dec’23YTD Dec’22
Ferro Chrome production (Tonnes)65,92266,79658,122198,979183,304
Ferro Chrome sales (Tonnes)65,67667,44865,773197,819190,583
Power generation (Million Units)299296272885808
Chrome Ore raising (Tonnes)147,392133,666134,656551,706371,573