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Tube Investments second quarter consolidated PAT up 38.9%

The city-based Murugappa Group company had registered consolidated profits after tax at Rs 66.80 crore same period last fiscal.

October 31, 2019 / 03:49 PM IST
 
 
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Tube Investments of India Ltd on October 31 said its consolidated profits after tax was at Rs 92.82 crore up by 38.9 per cent over the same period last year.

The city-based Murugappa Group company had registered consolidated profits after tax at Rs 66.80 crore same period last fiscal.

For the six month period ending September 30, 2019 consolidated profit after tax went up to Rs 171.95 crore from Rs 129.03 crore registered year ago.

However, total income for the quarter ending September 30, 2019 fell to Rs 1,261.09 crore as against Rs 1,504.50 crore registered year ago.

For the half-year period ending September 30, 2019 consolidated total income stood at Rs 2,656.45 crore as against Rs 2,993.87 crore registered year ago.

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In a statement, the company said, the revenue in the engineering division was at Rs 554 crore for the quarter ending September 30, 2019 as against Rs 772 crore registered year ago.

The cycle and accessories division, registered revenue drop of 31 per cent during the quarter compared with the corresponding quarter in prevoius year primarily due to de-growth in trade market and exit from institution business.

The revenue from metal formed products division grew to Rs 379 crore in July-September quarter from Rs 336 crore registered in corresponding period last fiscal.

The company said the growth achieved in segments like railways, industrial chains and fine blanking products, compensated partially for the impact of de-growth in auto industry during the quarter under review.

Shares of the company were trading at Rs 400 apiece, up by 8.47 per cent over previous close in BSE.



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PTI
first published: Oct 31, 2019 03:42 pm
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