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Tata Metallics records turnover of INR 546 crore in Q3

Steel News - Published on Tue, 15 Jan 2019

Image Source: Tata group
Tata Metallics, a subsidiary of Tata Steel, posted a marginal 1.8% dip in net profit in October-December 2018 (Q3FY19) to INR 39.63 crore against a net of INR 40.36 crore in Q3FY18. TML recorded a turnover of INR 546 crore and a 1.5% rise in profit before tax of INR 50.91 crore for the quarter ended December 31, 2018

Mr Sandeep Kumar MD said “The company has been able to keep its operating margin at around 14%: despite furnace problems faced in pig iron division during the quarter.’1 The furnaces are now performing well and with Pulverised Coal Injection from Q4 FY19, TML is looking forward to improved performance of pig iron division. Q4 of any year is usually the best quarter for Dl pipe business when most of water and sanitation projects have necessary funds that need to be utilized within the financial year.”

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Posted By : Ratan Singh on Tue, 15 Jan 2019
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