IFGL Refractories profit increase 8.57%

IFGL Refractories has recorded a profit after tax of Rs 28.49 crore for the year ended March 31, 2008, an increase of 8.57 per cent over the same period last year. Total income for the year stood at Rs 379.80 crore, an increase of 17.26 per cent. Pradeep Bajoria, director and chief executive officer, IFGL said, the performance was affected due to raw material prices.

IFGL is ramping up its operations and plans to set up facilities for manufacture of continuous casting refractories at Kandla special economic zone in Gujarat through its subsidiary IFGL Exports at a cost of Rs 50 crore. The project will be completed by September 2009.