January 14, 2022 / 11:30 IST
Tata Metaliks. (Image: tatametaliks.com)
Shares of Tata Metaliks on Friday declined around 8% after the company reported over 50% decline its December quarter net profit due to rise in total cost.
The stock hit a low of Rs 850 a share and fell as much as 7.76% in intraday. At 10.10am, the scirp was trading at Rs 894 on BSE down 3% from its previous close.
The firm reported a net profit of Rs 35.88 crore in the quarter against Rs 75.18 crore a year ago. Revenue increased 31% to Rs 689.80 crore, total cost surged 53.28% to Rs 642.83 crore.
Its revenue from the pig iron segment rose 23% to Rs 534.85 crore and revenue from ductile iron pipe grew 57.77% from a year ago to Rs 331.94 crore.
Tata Metaliks has its manufacturing plant in Kharagpur, West Bengal. It produces pig iron and ductile iron pipes and its annual production capacity is 5 lakh tonnes. Out of the total production, it converts 2 lakh tones in to ductile iron and 3 lakh tonnes into pig iron
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