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 ₹33.5 crore from ₹21.73 crore a year ago, the company said. Its revenue stood at ₹450 crore compared with ₹342.85 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 ₹64.1 crore compared with ₹56.7 crore a year ago, while revenue for the period touched ₹858.25 crore compared with ₹677.20 crore in H1 of 2016-17.
Bu hikaye Steel Insights dergisinin November 2017 sayısından alınmıştır.
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Bu hikaye Steel Insights dergisinin November 2017 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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