Tube Investments of India reported a 9 per cent rise in its sales for the quarter ended September 30, 2012, at Rs. 925 crore against Rs. 846 crore for the same period last year. The profit before tax for the quarter was Rs. 50 crore(Rs. 60 crore). The net profit after tax was lower at Rs. 37.19 crore (Rs. 45.14 crore)
L. Ramkumar, Managing Director, said in a release that the bicycles division had registered 18 per cent growth in revenue over corresponding period last year.
The engineering division grew 7 per cent despite the negative growth in the auto industry. The margins were under pressure across all segments due to increase in power and fuel costs, inflation et al.
Carborundum
Carborundum Universal achieved a 4 per cent rise in its consolidated net sales at Rs. 522 crore for the quarter ended September 30, 2012 against Rs. 502 crore in the corresponding period in the previous year. The profit after tax dropped by 49 per cent to Rs. 34 crore (Rs. 66 crore). Sales growth was driven by the performance of both the Indian and overseas operations.
The company said in a release that margins came under pressure owing to rising input costs, strong dollar and a challenging customer market. Ceramics business grew by 14 per cent and abrasives business by 3 per cent. Electro minerals business, however, de-grew by 3 per cent.
Tata Global Beverages
Tata Global Beverages reported a 14 per cent rise in its consolidated total operating income at Rs. 1,861 crore for the quarter ended September 30, 2012.
The profit from ordinary activities before tax for the quarter, at Rs. 148 crore, was higher by 25 per cent compared to the corresponding period last year. The profit after tax was up by 64 per cent at Rs. 128 crore.
During the quarter, new initiatives were launched to strengthen key brands. In the U.K., Tetley Tea launched its new master brand campaign.
Harish Bhat, Managing Director and CEO of Tata Global Beverages, said “Key markets have performed well, with constant focus on category expansion, innovation and operating efficiencies. Our alliances with Pepsico and Starbucks have recorded excellent progress. ”
