IFGL Refractories posts Q1 profit of Rs 10 crore

IFGL Refractories on Saturday posted a consolidated net profit of Rs 10 crore in the quarter ended June on a total income of Rs 206 crore.

It had clocked a profit of Rs 14 crore in Q1 FY20 on a total income of Rs 255 crore. Total expenses too came down to Rs 193 crore in Q1 FY21 from Rs 239 crore in Q1 FY20.

IFGL Refractories is a manufacturer of specialised refractories and operating systems for iron and steel industry. The Indian multinational of SK Bajoria Group has manufacturing facilities in India, China, Germany, United Kingdom and the United States.

It has a large pool of trained engineers and application specialists to offer customers total solution for refractory for flow control in steel teeming and continuous casting of steel.

The company said that outbreak of coronavirus (COVID-19) pandemic caused significant disturbances and slowdown in economic activities. It resumed business activities after the disruption in supply of certain components. There has been continuous improvement in the operations since then.

( With inputs from ANI )