Tube Investments profit plummets in Q3

| | Updated on: Feb 01, 2012

Murugappa group company Tube Investments has posted a 47 per cent decline (year-on-year) in third quarter net profit at Rs 27.17 crore, under pressure from increased material and fuel costs and a weak rupee.

Sales for the quarter were up 17 per cent at Rs 875 crore, over the corresponding quarter last year.

The bicycle and e-scooter division revenues grew 27 per cent to Rs 350 crore, while the engineering division recorded a growth of 24 per cent at Rs 368 crore. The metal formed products division dipped 7 per cent to Rs 192 crore.

Mr L. Ramkumar, Managing Director, said, “The bicycles division has registered a growth in volume and revenue over corresponding period last year. However, growth in the auto sector dropped for the second consecutive quarter, particularly in the passenger car segment which registered a negative growth of 6 per cent.”

Published on March 12, 2018

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you