Ferro Alloys Corporation Ltd. has informed that the Board of Directors of the company at its meeting held on January 28, 2013, accepted the resignation tendered by Mr. Vineet Saraf, Joint Managing Director with effect from the closing hours of January 31, 2013. Further, the Board has, subject to the approval of the shareholders of the Company, appointed Mr. Vinod Saraf as Joint Managing Director, with effect from February 01, 2013 for a period of 5 Years.

Ferro Alloys Corp. Ltd. reported unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales of INR 1,211.641 million compared to INR 1,279.472 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 30.524 million compared to loss from operations before other income, finance costs and exceptional items of INR 32.607 million a year ago. Loss from ordinary activities before tax was INR 4.884 million compared to INR 59.374 million a year ago. Net loss was INR 7.695 million or INR 0.04 per basic and diluted share, compared to net loss of INR 60.088 million or INR 0.32 per basic and diluted share, a year ago. For the nine months, the company reported net sales of INR 3,728.44 million compared to INR 3,500.904 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 397.068 million compared to loss from operations before other income, finance costs and exceptional items of INR 77.894 million a year ago. Profit from ordinary activities before tax was INR 205.979 million compared to loss from ordinary activities before tax of INR 142.274 million a year ago. Net profit was INR 140.611 million or INR 0.76 per basic and diluted share, compared to net loss of INR 139.39 million or INR 0.75 per basic and diluted share, a year ago.

Ferro Alloys Corp. Ltd. announced that they will report Q3, 2013 results on Jan 28, 2013