Kolkata (India) – In the meeting held to-day, 9th November, 2013, the Board of Directors of IFGL Refractories Limited (the Company) approved unaudited financial results, both on stand-alone and consolidated basis for three/six months ended on 30th September, 2013. Highlights of said financial results are as follows:
(Rs in lacs)
|
Three months ended 30.09.2013 (Unaudited) |
Six months ended 30.09.2013 (Unaudited) |
Corresponding six months ended 30.09.2012 (Unaudited) |
Year ended 31.03.2013
(Audited) |
|
| Consolidated | ||||
| Total Income |
20,229 |
38,415 |
34,123 |
67,566 |
| Profit before Tax |
2,550 |
4,570 |
2,302 |
4,132 |
| Profit after Tax and Minority Interest |
1,906 |
3,400 |
1,656 |
2,821
|
| Stand-alone | ||||
| Total Income |
8,289 |
16,438 |
15,169 |
30,842 |
| Profit before Tax |
730 |
1,551 |
1,148 |
2,538 |
| Profit after Tax |
476 |
1,016 |
761 |
1,706 |
There has been overall improvement in financial performance inasmuch as Total Income, Profit before Tax and Profit after Tax, both on consolidated and stand-alone basis, have increased. Earning per Share on annualized consolidated and stand-alone basis for financial year 2013-14 are Rs. 19.40 and Rs. 5.62, whereas for financial year 2012-13 they were Rs. 7.91 and Rs. 4.69 only. Aforesaid financial performance have been achieved despite several odds faced by the Company both in India and abroad and are after providing exchange loss of Rs. 1100 lacs whereas audited financial results for previous year ended on 31st March, 2013 included gain of Rs. 106 lacs. Consolidated financial performance has also improved because of devaluation of Rupee since April, 2013
Nevertheless, your Directors are confident that barring unforeseen circumstances, financial performance of the Company for current quarter as well as last quarter of financial year 2013-14 will continue to be more or less on lines expected.
About IFGL Refractories:
IFGL Refractories is a leading manufacturer of specialized Refractories having manufacturing facilities in China, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider. Equity Shares are listed both on Bombay Stock Exchange Limited and National Stock Exchange of India Ltd. For more information about IFGL Refractories, please visit www.ifglref.in