Tata Metaliks Limited net zooms 54%
KOLKATA: Tata Metaliks Limited (TML), which makes ductile iron water pipes, has reported a 54% year-on-year increase in quarterly net profit, helped by higher sales and lower input cost.
For the quarter ended September 30, net profit increased to Rs 33.5 crore from Rs 21.73 crore a year ago, the company said on Friday. Its revenue stood at Rs 450 crore compared with Rs 342.85 crore in the same quarter of FY17, as pig iron sales jumped 30% on a sequential basis over the first quarter of the current fiscal, mainly on account of firming up of prices in August and September.
TML also reaped the benefit of improved cost efficiencies and higher availability of pig iron due to modernisation of one of its blast furnaces
The company’s half-yearly net profit rose 13.17% to Rs 64.1 crore compared with Rs 56.7 crore a year ago, while revenue for the period touched Rs 858.25 crore compared with Rs 677.20 crore in H1 of 2016-17.
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Via:: Economic Times – Stocks