You are here: Home » Companies » News
Business Standard

Tata Metaliks reports Rs 94.72 crore net profit for June quarter

The firm was helped higher sales and price realisation

Topics
Tata Steel | Tata Metaliks | Q1 results

Press Trust of India  |  Kolkata 

Tata Metaliks
(Photo courtesy: LinkedIn/Tata Metaliks)

Ltd, a subsidiary of Tata Steel, on Tuesday reported a net profit of Rs 94.72 crore for the quarter ended June 30, 2021.

The company posted a net loss of Rs 12.36 crore in the year-ago quarter, said in a BSE filing.

Total income during April-June 2021-22 increased to Rs 606.45 crore from Rs 210.99 crore in the year-ago period.

Expenses were at Rs 471.62 crore during the quarter under review, up from Rs 227.46 crore a year ago.

"The company has delivered strong results primarily due to record sales and booming prices of pig iron. DI pipe business got impacted mainly due to COVID-induced restrictions by state governments. However, demand for DI pipes continues to remain robust on the back of significantly increased allocation in this year's Union budget for water infrastructure," Sandeep Kumar, Managing Director of said in a statement.

Tata Metaliks has manufacturing facilities at Kharagpur, West Bengal, which produces pig iron and DI pipes. The plant annually produces around 5.50 lakh tonne of hot metal, out of which over 2 lakh tonne is converted into DI pipes and the rest into pig iron.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 13 2021. 20:48 IST
RECOMMENDED FOR YOU
.