Tube Investments of India posts flat standalone Q3 net profit

CHENNAI: Murugappa Group company Tube Investments of India (TII) saw its Q3 standalone net profit stay flat at nearly Rs 161 crore, up just 2% from Rs 157.50 crore in the year ago quarter and lower than the Q2 tally of nearly Rs 168 crore.
The company declared an interim dividend of Rs 2 per share for the financial year 2024-25.
The company’s standalone Q3 revenue was flat at Rs 1,910 crore, up less than 1% compared with Rs 1,898 crore in the same period previous year. Profit before tax was also flat at Rs 212 crore as against Rs 210 crore the previous year.
Annualised ROIC (return on invested capital) was down to 43% compared to 54% in the previous year same period. Free cash flow for the quarter was Rs 70 crore.
In terms of businesses, engineering clocked Q3 revenue of Rs 1,212 crore down from Rs.1,229 crore last Q3. Profit before interest and tax for the quarter was Rs 156 crore compared to Rs 153 crore the previous year.
In metal formed products, the revenue for the quarter was marginally higher at Rs 400 crore compared to Rs 392 crore last Q3.
Profit before interest and tax for the quarter was down however at Rs 40 crore as against Rs 47 crore last year.
In mobility, revenue for the quarter was Rs 142 crore down from Rs 147 crore in the corresponding quarter of the previous year. Loss before interest and tax for the quarter was Rs 82 lakh as against Rs 8 crore the previous year.
The company’s consolidated revenue for the quarter was Rs 4,812 crore as against Rs 4,197 crore last Q3. The profit (before share of profit of an associate/joint venture, exceptional items and tax) for the quarter was at Rs 427 crore as against Rs 395 crore in the corresponding quarter of the previous year.