Indian Metals & Ferro Alloys said that it has prepaid the long term debt of Rs 127.65 crore, thereby making the total prepayment of Rs 308.65 crore till date.
After payment of normal installments for the quarter ending 31 March 2022, the company will have miscellaneous loans of Rs 14.28 crore, which will be paid as per norms due to adverse prepayment conditions.
Indian Metals & Ferro Alloys primarily produces ferro alloys, including charge chrome (high carbon ferro chrome), and has an installed furnace capacity of 190 MVA (284,000 MTPA) in its two plant sites at Therubali and Choudwar, in Odisha.
The company's consolidated net profit surged to Rs 122.12 crore in the quarter ended December 2021 as against Rs 32.42 crore during the previous quarter ended December 2020. Sales rose 54% YoY to Rs 655.22 crore in Q3 FY22.
The scrip shed 0.26% to currently trade at Rs 366.75 on the BSE.
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