Tube Investments Q2 net up 7% at ₹96 crore

Our Bureau Chennai | Updated on October 22, 2020 Published on October 22, 2020

Murugappa Group company Tube Investments of India (formerly known as TI Financial Holdings Ltd) has reported a 7 per cent increase in its profit after tax at ₹96 crore for the quarter ended September 30, 2020, when compared with ₹90 crore in the same period a year ago, helped by lower expenses.

Its PBT (before exceptional items) stood at ₹129 crore, an increase of 17 per cent over the same period of the previous year, according to a statement.

While revenue from operations dropped to ₹1,033 crore from ₹1,056 crore in Q1 of this fiscal, total expenses also fell significantly to ₹965 crore from ₹1,017 crore.

Profit before exceptional items and tax stood at ₹129 crore as against ₹111 crore.

The company generated free cash flow of ₹246 crore for the quarter ended September 30, 2020.

TII’s consolidated revenue for the quarter was lower at ₹1,193 crore (₹1,247 crore). The profit after tax grew to ₹101 crore as against ₹93 crore in the year-ago period.

For the half-year ended September 30, 2020, its standalone profit was ₹37 crore when compared with ₹179 crore. Total revenue from operations stood at ₹1,466 crore (₹2,365 crore).

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

Published on October 22, 2020
This article is closed for comments.
Please Email the Editor