Indian Metals & Ferro Alloys's Q2 net down 35%

Total revenue jumps by 14% to Rs 322.67 crore for Q2, as compared to Rs 284.13 crore in same quarter previous year

Indian Metals & Ferro Alloys, India’s leading fully integrated producer of value-added ferro chrome, posted 35% decline in its net profit at Rs 14.12 crore for the quarter ended September 30, 2013 as compared to Rs 21.77 crore in the comparable quarter last year.

Total revenue of the company, however, jumped by 14% to Rs 322.67 crore for Q2, 14 as compared to Rs 284.13 crore in the same quarter previous year. Subhrakant Panda, Managing Director & CEO of the company attributed the decline in net profit to tough business environment.