Tube Investments of India (TII) has reported a 12.1 per cent rise in its consolidated net profit at Rs. 84.83 crore in the second quarter ended September 30, 2013, against Rs. 75.66 crore in the same pe riod in the previous year.
On a standalone basis, TII’s revenue for the quarter was lower by 7 per cent at Rs. 864.07 crore as against Rs. 929.42 crore in the year-ago period. The net profit for the quarter was Rs. 31.96 crore as compared to Rs. 37.19 crore.
Cholamandalam Investment and Finance Company, a subsidiary of TII, registered a growth of 6 per cent in disbursements for the quarter. The profit after tax for the quarter rose by 28.6 per cent to Rs. 90 crore from Rs. 70 crore.
Cholamandalam General Insurance Company, a subsidiary, registered a growth of 10 per cent in gross written premium at Rs. 429 crore during the quarter against Rs. 391 crore in the year-ago period. The net profit for the quarter rose by 70 per cent to Rs. 17 crore from Rs. 10 crore.
Shanthi Gears, another subsidiary, registered a revenue growth of 10 per cent and net profit growth of 18 per cent in the period under reference.