Tinplate Company records loss of Rs 35 crore in Q2 FY23

Tinplate Company of India reported a net loss of Rs 35.10 crore in Q2 FY23 as against a net profit of Rs 74.93 crore in Q2 FY22.

Net sales declined by 1.8% to Rs 869.45 crore during the quarter.

Total expenditure increased by 14.9% to Rs 999.86 crore in Q2 FY23 over Q2 FY22.

The company reported a pre-tax loss of Rs 46.50 crore in Q2 FY23 as against a pre-tax profit of Rs 99.99 crore in the same period last year.

The Tinplate Company of India (TCIL), a subsidiary of Tata Steel, is India's leading tinplate producer. TCIL a larger share of the domestic tinplate market. It caters to ~60% of the prime tinplate market and 40%+ of the overall domestic market.

 

The scrip rose 0.17% to currently trade at Rs 301.70 on the BSE.

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