IMFA's Profit Surges Amid Cost-Cutting Strategy

Indian Metals and Ferro Alloys (IMFA) reported a 40% increase in consolidated net profit for the September quarter, reaching Rs 125.21 crore, up from Rs 89.34 crore the previous year. The profit boost was largely attributed to reduced expenses, which decreased to Rs 540.71 crore.

Indian Metals and Ferro Alloys (IMFA) on Thursday announced a significant 40% increase in consolidated net profit for the September quarter, amounting to Rs 125.21 crore. This growth comes despite challenges in the market, demonstrating the company's robust financial performance.

The profit rise, compared to Rs 89.34 crore reported a year earlier, highlights IMFA's strategic focus on cost reduction, which played a crucial role. Noteworthy is the reduction in total expenses from Rs 581.10 crore to Rs 540.71 crore, underscoring efficient expenditure management.

Total income also saw a marginal increase, rising from Rs 704.25 crore in the same period in the previous year to Rs 711.02 crore, further consolidating the firm's economic position amid a competitive sector landscape.

(With inputs from agencies.)