(Jul 22, 2014)Indian Metals & Ferro Alloys  ' April-June (Q1FY15) net profit declined by 80 percent at Rs 2 crore against Rs 10 crore in a year ago period.

“We are currently in a very challenging environment with lower ferro chrome realisations and cost pressures negating higher production and sales resulting in sub-optimal results," said Subhrakant Panda, Managing Director & CEO.

 The company's total income was down at Rs 301 crore versus Rs 307 crore, Y-o-Y.

With China coming out of a dip besides better economic environment domestically, Panda expects things to improve going ahead.

Indian Metals and Ferro Alloys produce value-added ferro chrome with capacity of 275,000 tonnes per annum. Ferro chrome production increased 12 percent year-on-year to 51,704 tonnes during the quarter.

At 14:36 hrs, IST, the stock was quoting at Rs 395, down Rs 5.40, or 1.35 percent.

• [Editor:Juan]