Tube Investments of India Ltd. (TII), a Murugappa Group firm, said its consolidated net profit for the first quarter stood at ₹135 crore against a net loss of ₹65 crore a year earlier.
Revenue from operations jumped more than fivefold to ₹2,437 crore. CG Power and Industrial Solutions Ltd., a subsidiary, posted a revenue of ₹1,050 crore (₹363 crore) and PBT of ₹75 crore (loss of ₹162 crore), it said.
Shanthi Gears registered a revenue of ₹67 crore (₹25 crore) while PBT stood at ₹12 crore (₹5 crore loss). TII witnessed good demand in the engineering and metal formed products business, according to chairman Arun Murugappan.
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