Pig iron and ductile iron water pipe maker Tata Metaliks Limited (TML) has reported a 54 percent 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 â¹33.5 crore from â¹21.73 crore a year ago, the company said. Its revenue stood at â¹450 crore compared with â¹342.85 crore in the same quarter of FY17, as pig iron sales jumped 30 percent 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 percent to â¹64.1 crore compared with â¹56.7 crore a year ago, while revenue for the period touched â¹858.25 crore compared with â¹677.20 crore in H1 of 2016-17.
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