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Tata Metaliks Q2 net profit jumps manifold to Rs 82 cr on reduces expenses

Tata Metaliks, a pig iron manufacturer and supplier, on Monday said its net profit jumped manifold to Rs 82 crore during the September 2020 quarter, mainly on account of reduced expenses.

steel, iron, metal, manufacturing, production

Tata Metaliks, a pig iron manufacturer and supplier, on Monday said its net profit jumped manifold to Rs 82 crore during the September 2020 quarter, mainly on account of reduced expenses.

The company had posted a net profit of Rs 23 crore in the corresponding quarter of the previous financial year, Tata Metaliks said in a regulatory filing to the BSE.

Its total income in the second quarter ended September 30 also rose to Rs 521.84 crore, from Rs 517.06 crore a year ago.

Total expenses reduced to Rs 431.63 crore in the quarter under review, from Rs 494.10 crore in the year-ago period.

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.