Tube Investments of India Ltd. (TII) standalone net profit for the third quarter ended December rose 12% to ₹120 crore on improved sales.
During the quarter under review, revenue from operations increased by 30% to ₹1,701 crore from ₹1,309 crore, it said in a regulatory filing.
Segmentwise revenue showed that engineering sector recorded ₹996 crore against ₹733 crore, metal formed products showed a marginal improvement at ₹330 crore from ₹315 crore, mobility division improved to ₹280 crore (₹234 crore) and revenue from other segment doubled to ₹159 crore.
“The results for the quarter show a steady performance by all the businesses. The Company is closely watching the impact of challenges of drop in auto industry performance which has impacted domestic Tubes and Metal Formed business,” said M.A.M. Arunachalam, chairman.
“Performance in exports has witnessed healthy growth in Tubes and Industrial Chains business. CG Power has also delivered consistently higher results across all its business segments,” he said.The board declared an interim dividend of ₹2 per share.