Tube Investments of India Ltd. (TII) standalone net profit for the quarter ended March slid by ₹3 crore to ₹248 crore, due to increase in input costs.
Revenue from operations increased by ₹299 crore to ₹1,962 crore, of which engineering segment accounted for ₹1,276 crore, metal formed products ₹386 crore and mobility ₹154 crore.
Costs of raw materials increased by ₹145 crore to ₹1129 crore. Mobility segment recorded loss before interest and tax of ₹9 crore against loss of ₹5 crore, the Murugappa group firm said in a statement.
“Exports during the year have grown by 14%. Notably, our subsidiaries, CG Power and Industrial Solutions Ltd, as well as Shanthi Gears Ltd, sustained their impressive performance,” said Chairman M.A.M. Arunachalam.
To meet the fund requirements for FY25, the board on Monday approved raising up to ₹350 crore either by way of term loan and or privately placed secured non-convertible debentures in one or more tranches.
The board recommended a final dividend of ₹1.50 per share.
