November 20, 2008

TATA Metaliks net up profit in Q1 up by 31% YoY

It is reported that TATA Metaliks posted 31.7% growth in net profit at INR 20.23 crore for the quarter ended June 30th 2008 up from INR 15.36 crore during the corresponding quarter of 2007. The net sales in Q1 2008 went up by 48.9% to INR 314.55 crore.

Mr Harsh K Jha MD of TATA Metaliks said that “Higher prices contributed to the growth in sales value, though the volume remained almost at the same levels.”

He added that TATA Metaliks expects a revenue growth of 15% to 20% in 2008 or 2009 due to firming up of pig iron prices.”