Tata Steel arm Tata Metaliks Ltd (TML) today reported around 25 percent decline in profit to Rs 19.6 crore for the quarter ended on December 31, 2016, compared to Rs 26.3 crore in the same period of previous year.
Total income from operations during the quarter was flat at Rs 317.9 crore against Rs 317 crore in the year-ago period, the company said in a filing to BSE.
"The figures for the quarter ended December 31, 2016 are the balancing figures between the audited figures in respect of the nine months ended and the unaudited year to date figures up to the second quarter of the current financial year," the company said.
In the quarter under review, the company said that scheme of amalgamation of Tata Metaliks DI Pipes with itself became effective.
"The scheme has become effective from December 22, 2016 with appointed date from April 1, 2016," the company said.
TML is one of the leading manufacturers of foundry grade pig iron in India.
TML, a subsidiary of Tata Steel, has its manufacturing plant at Kharagpur, West Bengal, with an annual production capacity of 345,000 tonnes of pig iron and turnover of Rs 10.38 billion in 2015-16.
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