IFGL Refractories posts Rs 5.5-cr PAT

IFGL Refractories Ltd reported a profit after tax of Rs 5.51 crore for the Q1FY13 against Rs 4.8 crore in the corresponding quarter last year. It posted a consolidated net profit of Rs 12.56 crore (Rs 10.7 crore) during the quarter. The SK Bajoria group outfit has manufacturing facilities in Brazil, China, Germany, India, the UK and the US through subsidiaries. IFGL Exports Ltd, the latest among subsidiaries, became a 51 per cent subsidiary of the company on March 30. On September 10, 2010, IFGL had acquired EI Ceramics LLC (EIC) and CUSC International Ltd (CUSC), both located in Cincinnati (Ohio), US. Monocon International Refractories Ltd, is its UK-operating subsidiary.