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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).
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