Tube Investments sees consolidated Q1 PAT up 64.5 percent

For the year ending March 31, 2018, the consolidated PAT was Rs 155.51 crore.

Tube Investments of India has posted a 64.5 percent rise in its consolidated profit after tax (PAT) during the quarter April-June 2018. The PAT was Rs 62.23 crore against Rs 37.82 crore made during the corresponding period last year.

For the year ending March 31, 2018, the consolidated PAT was Rs 155.51 crore. The city-based flagship company of diversified business conglomerate Murugappa Group clocked an 11.7 percent rise in its consolidated total income at Rs 1,489.42 crore from Rs 1,332.64 crore.

The company said in its filing on the BSE that its engineering business registered a volume growth of 26 percent in tubes and 19 percent in strips business during the quarter ending June 30, 2018. On the cycles and accessories business, the company said, the trade volume remained flat during the quarter.

"This division registered a revenue drop of 8 percent during the quarter under review as against the same period last year", the company said. The doorframes segment, under the 'metal formed products' business, grew by 15 percent during the quarter ending June 30, 2018.

The revenue was Rs 313 crore compared to Rs 260 crore registered during the corresponding quarter of last year. Shares of the company were trading at Rs 245 per share, up by 0.70 percent over the previous close on the BSE.

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