India: IMFA reports 36% y-o-y rise in net profit in Q1FY23

IMFA Limited, India’s leading ferroalloys manufacturer, recorded net profit at INR 1.34 billion ($16.78 million) in Apr-Jun’22, up 36% y-o-y. The company posted strong Q1FY23 results despite continued uncertainty due to geopolitical developments and slower growth worldwide. Revenue for the quarter totaled INR 7.43 billion ($93.27 million), up 38% y-o-y, sources informed.