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Tata Metaliks Net Profit in Q1 falls 36% YoY

Steel News - Published on Tue, 16 Jul 2019

Image Source: SteelGuru
Tata Steel subsidiary Tata Metaliks Limited has reported 36.45 per cent YoY decline in net profit at INR 19.42 crore for the first quarter ended June 30, 2019. Tata Steel said "Revenue from operations, however, rose by 6.73 per cent to INR 499.03 crore during April-June quarter of 2019-20, as against INR 467.54 crore in the same period of 2018-19. The other income of the company increased to INR 4.40 crore during Q1FY 20 versus INR 1.48 crore in the same quarter last year. Total expenses stood at INR 475.90 crore in the quarter under review against INR 427.33 crore in June quarter of 2018-19.”

Segment-wise, revenue from pig iron rose to INR 383.47 crore for Q1 FY20 compared to INR 369.98 crore in Q1 FY19. The ductile iron pipe business also saw a surge rise in revenue to INR 257.01 crore versus INR 227.36 crore in the year-ago period.

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Posted By : Ratan Singh on Tue, 16 Jul 2019
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