Tube Investments of India Ltd (TII) has more than doubled its net profit to ₹148 crore for the quarter ended March 31, 2015, from ₹69 crore in the corresponding period of the previous year. Total revenue for the quarter under consideration was ₹2,367 crore, a 4 per cent growth over ₹2,283 crore reported for the comparable quarter in 2013-14.
For the full year, it posted a 36 per cent growth in net profit at ₹424 crore, against ₹311 crore in 2013-14. Revenue grew 10 per cent to ₹9,698 crore from ₹8,834 crore in the previous year.
The board has recommended a final dividend of 0.50 paise per share (25 per cent). This, with the interim dividend of ₹1.50 a share paid in February, makes the total dividend 100 per cent for 2014-15.
One of its subsidiaries Cholamandalam Investment and Finance Company Ltd registered a 49 per cent growth in net profit during the quarter at ₹136 crore against ₹91 crore in the previous year quarter.
A press release from the company says the bicycle division registered a growth of 6 per cent in volumes during the year, driven by institutional sales.
The revenue for the year was higher by 11 per cent at ₹1,314 crore against ₹1,185 crore in the previous year. The engineering division registered a volume growth of 6 per cent in tubes and 2 per cent in cold rolled steel strips during the year.
In the ‘metal formed products’ segment, sales of automotive chains to OEMs recorded a volume growth of 11 per cent over the previous year.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.