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Tube Investments of India has reported a 65 per cent growth in net profits to Rs 46 crore for the fourth quarter of 2010-11 compared with Rs 28 crore for the same period the previous year.
The board of directors have recommended a final dividend of Rs 1.50 per equity share of Rs 2. An interim dividend of Rs 1.50 was declared and paid on January 29, 2011. Income from operations was up 23 per cent to Rs 782 per cent for the fourth quarter as against Rs 635 crore for the same period last year.
A strong growth in auto industry enabled the growth of engineering and metal formed products businesses.
TII reported a gross turnover of Rs 3,130 crore for 2010-11, a growth of 27 per cent over the previous year. The operating profit before exceptional items moved up to Rs 221 crore from Rs 169 crore.
An exceptional charge of Rs 40 crore was considered in the previous year (sale of land). The net profits doubled to Rs 170 crore from Rs 81 crore in 2010-11.
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