Tube Investments of India (TII) has announced a final dividend of Re. 1 per share (face value Rs.2) for the year ended March 31, 2012. An interim of Rs. 2 per share had been paid in February. The company achieved a 17 per cent rise in its turnover at Rs. 3,459 crore (standalone) for the year under reference against Rs. 2,963 crore in the previous year. The net profit has improved by 6 per cent to Rs. 180 crore from Rs. 169.66 crore. The net profit in the previous year included an exceptional income of Rs. 21 crore.
L. Ramkumar, Managing Director, said in a release that margins were under pressure due to product mix, exchange rate and inability to pass on the cost increases fully to the market due to competitive environment.
Cholamandalam MS General Insurance Company, a general insurance subsidiary, registered a growth of 44 per cent in gross written premium at Rs. 1,506 crore against Rs. 1,047 crore. The net profit was Rs. 19 crore against a loss of Rs. 23 crore in the previous year.
