Tube Investments Q3 net profit jumps 67% to Rs 27.47 cr

Engineering firm Tube Investments of India (TII) today reported a 67.39 per cent jump in standalone net profit to Rs 27.47 crore for the third quarter ended December 31, 2016.
The company had reported a net profit of Rs 16.41 crore in the year-ago period, TII said in a BSE filing.
Its total income from operations during the quarter under review also went up by 7.53 per cent to Rs 1,041.29 crore as against Rs 968.31 crore in the corresponding quarter of last fiscal.
Total expenses rose to Rs 996.50 crore during the quarter against Rs 916.04 crore a year ago.

Meanwhile, in a separate filing, TII informed that its board in a meeting held today approved an Interim Dividend of Rs 1.25 per equity share having face value of Rs 2 each for the financial year ending March 31, 2017.
It also "approved the proposal for setting up of a greenfield project for manufacturing Cold Rolled Welded (CDW) tubes" in Patiala district of Punjab with an estimated capital expenditure of about Rs 77 crore.
Shares of TII today ended 1.17 per cent up at Rs 608.15 apiece on BSE.