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Informist, Monday, Nov. 4, 2024

--Tube Invest Jul-Sept consol net profit INR 2.07 bln vs INR 2.66 bln yr ago 

--Tube Invest Jul-Sept consol revenue INR 49.25 bln vs INR 43.06 bln yr ago 

--Tube Invest Apr-Sept consol net profit INR 4.34 bln vs INR 4.82 bln yr ago 

--Tube Invest Apr-Sept consol revenue INR 95.02 bln vs INR 82.03 bln yr ago 

By Apratim Sarkar

MUMBAI - Tube Investments of India Ltd.'s consolidated net profit for the September quarter fell 22.3% on year due to higher expenditure. The company's net profit for the latest quarter was INR 2.07 billion, down from INR 2.66 billion in the year-ago period. The total revenue for the quarter was INR 49.25 billion, up 14.4% on year from INR 43.06 billion. The year-on-year revenue growth was the lowest in the last four quarters. Tube Investments' other income rose to INR 707 million, up 14.7% from INR 616 million in the year-ago quarter. 

In the September quarter, the company's total expenditure was INR 45.7 billion, up 18.1% on year from INR 38.7 billion. The cost of materials increased to INR 29.7 billion, up 15.2% from INR 25.8 billion in the year-ago quarter. Finance costs increased to INR 162.4 million, up 24.2% from INR 130.8 million in the year-ago period.

The company's depreciation and amortisation expense was INR 1.19 billion, up 6.2% from INR 1.12 billion in the year-ago quarter. The company spent INR 4.43 billion on employee benefits, up 20.6% from INR 3.67 billion in the year-ago quarter. Other expenses for the quarter were INR 7.30 billion, up 20.2% on year from INR 6.08 billion.

The company's Apr-Sept net profit was INR 4.34 billion, down 10% from INR 4.82 billion in the year-ago quarter. The revenue for Apr-Sept was INR 95.02 billion, up 15.8% on year from INR 82.03 billion.  

The Chennai-based company's revenue for the September quarter from the engineering segment was INR 13.2 billion, up 3.8% on year from INR 12.7 billion. The metal formed products segment revenue for Jul-Sept was INR 4.04 billion, marginally up from INR 4 billion in the year-ago quarter. The company's mobility segment revenue for the quarter was INR 1.68 billion, down 5.1% from INR 1.77 billion in the year-ago quarter. 

The revenue from the electric vehicle segment for the quarter was INR 1.46 billion, up 161% from INR 560.4 million in the year-ago quarter. The company's revenue from the gear and gear products segment was INR 1.55 billion, up from INR 1.35 billion in the year-ago quarter. The Apr-Sept revenue from the electric vehicle segment was INR 2.62 billion, nearly four-fold from the year-ago revenue. 

The company's revenue from the power systems segment in the latest quarter was INR 8.46 billion, up 36.5% from INR 6.19 billion in the year-ago quarter. The revenue from the industrial systems segment for Jul-Sept was INR 15.61 billion, up 13.2% on year from INR 13.79 billion. Monday, shares of Tube Investments closed at INR 4,346.95 on the National Stock Exchange, down 2.8%.  End

Edited by Vandana Hingorani

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