Tata Metaliks profit dips 51% to Rs 23 cr in July-Sep quarter

Tata Metaliks Ltd, a pig iron manufacturer and supplier, on Tuesday reported a 50.78 per cent decline in net profit to Rs 23.39 crore for the quarter ended on September 30, 2019. The company had posted a net profit of Rs 47.53 crore in the corresponding quarter of the previous fiscal, Tata Metaliks Ltd said in a regulatory filing to the BSE.

Its total income declined to Rs 517.06 crore in the second quarter of the current fiscal as against Rs 548.49 crore in the corresponding quarter of the previous fiscal, it said. Total expenses were at Rs 494.10 crore in the quarter under review against Rs 485.23 in the year-ago quartr.

A subsidiary of domestic steel giant Tata Steel, Tata Metaliks, has a manufacturing plant at Kharagpur, West Bengal, where pig iron and ductile iron pipes are produced.