The Tinplate Company of India Q1 profit grows 24 pc to 85 cr
- Country:
- India
The Tinplate Company of India Ltd (TCIL) has posted about 24 percent growth in net profit at Rs 84.98 crore for June quarter 2022-23, mainly on account of higher income.
The company's profit was Rs 68.62 crore in the year-ago period, the Tata Steel subsidiary said in a regulatory filing on Friday.
Total income also rose 16 percent to Rs 1,017.17 crore from Rs 874.40 crore in the year-ago quarter.
Expenses were at Rs 903.46 crore as against Rs 782.36 crore in April-June 2021.
Domestic steel major Tata Steel owns a 74.96 percent stake in Kolkata-headquartered TCIL, a tinplate producer.
From its plant in Jamshedpur (Jharkhand), TCIL caters 40 percent of the overall domestic market and exports 15-20 percent of its sales to different geographies across the world.
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