{"id":118321,"date":"2024-01-31T14:35:13","date_gmt":"2024-01-31T09:05:13","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=118321"},"modified":"2024-01-31T14:35:18","modified_gmt":"2024-01-31T09:05:18","slug":"metal-stock-jumps-16-after-its-net-profit-increases-by-890-yoy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/metal-stock-jumps-16-after-its-net-profit-increases-by-890-yoy\/","title":{"rendered":"Metal stock jumps 16% after its net profit increases by 890% YoY"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1693164389\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>This top Indian maker of ferro chrome had its shares rise up to 16 percent as the company&#8217;s net profit and sales climbed by 890 percent and 9 percent, respectively, in the third quarter.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4158503482\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 3,625.18 crore, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/IMFA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Indian Metals &amp; Ferro Alloys Ltd<\/a><\/strong> were trading at Rs 671.90 per share, increasing around 14.21 percent as compared to the previous closing price of Rs 588.30 apiece.\u00a0<\/p><p>Looking into the company&#8217;s Performance, Indian Metals &amp; Ferro Alloys Ltd&#8217;s revenue decreased by 1 percent on a quarter-on-quarter basis from Rs.693 crores in Q2FY24 to Rs. 685 crores in Q3 FY24. Further, revenue increased by 9 percent year on year from Rs. 624 crores in Q3FY23 to Rs. 693 crores in Q3FY24.&nbsp;<\/p><p>Indian Metals &amp; Ferro Alloys Ltd&#8217;s net profit increased by 22 percent on a quarter-on-quarter basis from Rs.89 crore in Q2FY24 to Rs. 109 crore in Q3FY24. Further, net profit increased by 890 percent yearly from Rs. 11 crore in Q3FY23 to Rs.109 crore in Q3FY24.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3561879627\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>IMFA is India&#8217;s largest producer of ferro chrome, with 190 MVA furnace capacity, 204.55 MW captive power facilities, and significant chrome ore mining areas. The Company&#8217;s ferrochrome output is mostly shipped to Korea, China, Japan, and Taiwan.&nbsp;<\/p><p>The stock gave an 85.90 percent return in six months and a 133.84 percent return so far this year. If an investor invests Rs 1 lakh in the company would be worth Rs 2.33 lakhs in a year.&nbsp;<\/p><p>The Company has built captive power plants capable of producing 200 MW of electricity, ensuring a consistent and uninterrupted supply. The power plants generate 170 MW from coal, 30 MW from coal and furnace gas, and 4.55 MW from solar.&nbsp;<\/p><p>IMFA&#8217;s recent shareholding pattern, The Promoters of the company own 58.69 percent while Retail shareholders own a 38.29 percent stake in the company and Foreign Institutional Investors own a 2.93 percent stake.&nbsp;<\/p><p>Indian Metals and Ferro Alloys Limited (IMFA) is India&#8217;s major, fully integrated manufacturer of ferro chrome, which is largely utilized in stainless steel manufacturing.&nbsp;<\/p><p><strong>Written by:- Abhishek Singh&nbsp;<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-3377937395\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-328356358\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>This top Indian maker of ferro chrome had its shares rise up to 16 percent as the company&#8217;s net profit and sales climbed by 890 percent and 9 percent, respectively, in the third quarter.&nbsp; With a market capitalization of Rs 3,625.18 crore, the shares of Indian Metals &amp; Ferro Alloys Ltd were trading at Rs [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[948,936],"class_list":["post-118321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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