Tube Investments Q1 net rises 10% to ₹148 cr.

Revenue from operations contracted by 9% to ₹1,672 crore

August 03, 2023 08:24 pm | Updated 08:24 pm IST - CHENNAI

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.

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.

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