IFGL - RESULTS

The Board of Directors of IFGL Refractories Ltd in their meeting held on Friday, 4^th February, 2011  inter alia  considered and approved unaudited financial results, both on stand alone and consolidated basis, for three/nine months ended on 31^st December, 2010.

Said unaudited financial results are summarized below:

(Rs in lacs)

	3 months ended on 31.12.2010	3 months ended on 31.12.2009	Variation (%)	9 months ended on 31.12.2010	9 months ended on 31.12.2009	Variation (%)
Consolidated
Total Income	11,525	11,530	-0.04	33,145	30,216	9.69
Profit before Tax	555	1,578	-64.83	1,749	4,058	-56.90
Profit after Tax (after minority interest)	389	1,058	-63.23	1,274	2,798	-54.47
Stand-alone
Total Income	5,026	4,812	4.45	14,887	12,111	22.92
Profit before Tax	226	771	-70.69	608	1,731	-64.88
Profit after Tax	152	509	-70.14	409	1,142	-64.19

 

Unaudited financial results  for three/nine months ended on 31^st December, 2010 are strictly not comparable with corresponding three/nine months of previous year.  Nonetheless, compared to previous year although Total Income has gone up, Profit before tax has substantially reduced mainly because of increase in cost of raw materials, power and fuel, employees, interest etc. To correct this imbalance, several corrective steps are being undertaken, including approaches to customers for price increases and benefits of all these measures are likely to be visible in results of current quarter ending on 31^st March, 2011.

 

 

 

About  IFGL Refractories:

 

IFGL Refractories is a leading manufacturer of specialized Refractories having manufacturing facilities in Brazil, China, Czech Republic, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider. Total Consolidated Income, Profit befor tax and Profit after tax for 2009-2010 were Rs 41,865 lacs, Rs 4,971 lacs and Rs 3,430 lacs respectively. Equity Shares are listed both on Mumbai and  National Stock Exchanges of India.