Tata Metaliks Ltd, a pig iron manufacturer and supplier, on October 29 reported a 50.78 percent decline in net profit to Rs 23.39 crore for the quarter ended on September 30, 2019.
The company had posted a net profit of Rs 47.53 crore in the corresponding quarter of the previous fiscal, Tata Metaliks Ltd said in a regulatory filing to the BSE.
Its total income declined to Rs 517.06 crore in the second quarter of the current fiscal as against Rs 548.49 crore in the corresponding quarter of the previous fiscal, it said.
Total expenses were at Rs 494.10 crore in the quarter under review against Rs 485.23 in the year-ago quarter.
A subsidiary of domestic steel giant Tata Steel, Tata Metaliks, has a manufacturing plant at Kharagpur, West Bengal, where pig iron and ductile iron pipes are produced. Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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