IFGL benefits from steel rebound

By Myles McCormick
Published: Monday, 14 November 2016

An slight increase in the world steel capacity utilisation rate in September and a drop off in Chinese exports boosted the Indian refractory maker’s bottom line.

Indian refractory manufacturer IFGL Refractories Ltd cited stronger performance in the steel industry as its profits rose by over 200% year-on-year (y-o-y) in the September quarter.

Reporting its results for the second quarter of the Indian 2016-17 financial year, IFGL said a drop off in Chinese steel production and exports, which fell...

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