Tube Investments of India Ltd. (TII) standalone net profit for the June quarter rose 10% from the year-earlier period to ₹148 crore.
Revenue from operations contracted by 9% to ₹1,672 crore on muted demand. Free cash flow was ₹97 crore, said the Murugappa group firm in a statement.
Segment wise revenues of engineering and mobility divisions declined even as metal formed products posted an increase.
“Though the mobility division was affected by a sluggish demand, the engineering and metal formed products registered good profit driven by good growth in auto industry,” said Chairman M.A.M. Arunachalam.
Though the mobility division was affected by a sluggish demand, the engineering and metal-formed products registered good profit driven by good growth in auto industry, says Chairman M.A.M. Arunachalam. | Photo Credit: cueapi
“Our electric vehicles business under TI Clean Mobility is making steady progress and we expect revenues to pick up from the coming quarters,” he said.
