IMFA posts record turn over of 593.53 crores

Bhubaneswar, Jul 28: Indian Metals&Ferro Alloys Ltd (IMFA), India's largest and fully integrated producer of ferro alloys, has posted a record turnover of Rs.593.53 crores.

Addressing the 45th Annual General Meeting here today IMFA Chairman Bansidhar Panda said the Company has registered an increase of 26.67 per cent turn over the previous year.

This included export earnings of Rs 317.74 crores which increased by 48.52 per cent. IMFA sources said the improved operational performance coupled with higher product prices resulted in PBIDT increasing by 45.48 per cent to Rs 140.53 crores.

IMFA during the year also produced a record 130,563 tonnes of ferro chrome, almost 23.06 per cent higher than the previous year's production.

The Company also raised 323,020 tonnes of chrome ore during the year which was converted to value added Ferro chrome.

Dr Panda informed the stakeholders of the Company that financial closure had been achieved for a 30 MW fuel power plant at Choudwar which,he said is expected to be operational in 18 months. This will take total power generation of the Company to 138 MW, he added.

UNI