Tata Metaliks posts Rs 94cr profit in Q1

Backed by higher sales and price realisation, Tata Metaliks Limited, a subsidiary of Tata Steel, on Tuesday reported a net profit of Rs 94.72 crore for the first quarter ended June 2021 against a loss of Rs 12.36 crore posted in the same period last year.

The company recorded revenue from operations of Rs 603 crore and PBT of Rs 135 crore for the quarter ending June'21.

''Demand for Pig Iron got impacted adversely in Q1 due to Covid second wave as major foundry clusters operated at 30 -40 per cent capacity. However, the company achieved the highest ever quarterly deliveries on the back of a jump in exports,'' a company official said.

''Record sales volumes coupled with strong price realisation, along with stable blast furnace operations, raw materials cost optimisation and higher coal injection have helped the company achieve its best ever quarterly profits,'' the official said.

Tata Metaliks has its manufacturing facilities at Kharagpur in West Bengal which produces Pig Iron and DI Pipes.

The plant annually produces around 5,50,000 tonnes of hot metal, out of which over 2,00,000 tonnes is converted into DI Pipes and the rest into Pig Iron.

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