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Last Updated : Jul 16, 2019 12:45 PM IST | Source: Moneycontrol.com

Tinplate, Tata Metaliks tank 7% after subdued earnings in June quarter

Tata Metaliks disappointed street on July 15 as it reported 35.4 percent year-on-year decline in June quarter profit at Rs 19.6 crore on weak operating income

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Shares of Tinplate Company of India and Tata Metaliks fell nearly 7 percent intraday on July 16 after weak set of June quarter earnings reported by both companies.

Tata Metaliks disappointed street on July 15 as it reported 35.4 percent year-on-year decline in June quarter profit at Rs 19.6 crore on weak operating income.

Revenue from operations during the quarter increased 6.7 percent to Rs 499 crore compared to the same period last fiscal.

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At operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) fell 32 percent year-on-year to Rs 45 crore and margin contracted 510 bps to 9 percent in June quarter.

Tata Metaliks stock was quoting at Rs 556.00, down Rs 25.10, or 4.32 percent on the BSE at 1136 hours IST.

Tinplate Company of India reported a 7.1 percent year-on-year fall in June quarter profit at Rs 8.8 crore and revenue dropped 1.3 percent to Rs 561.3 crore compared to year-ago.

However, operating earnings showed growth as EBITDA grew 2.9 percent YoY to Rs 26.2 crore and margin expanded 20 bps to 4.7 percent in Q1.

Shares of tinplate maker were quoting at Rs 128, down Rs 4.10, or 3.10 percent on the BSE at 1136 hours IST.

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First Published on Jul 16, 2019 12:45 pm
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