Tube Investments of India's consolidated net down 13%

CHENNAI: Murugappa group ’s Tube Investments of India (TII)’s consolidated net profit for the September quarter went down 13% to Rs 300 crore from Rs 346 crore from the same period last year. Company’s total income for the quarter stood at Rs 4,995 crore.

TII’s consolidated revenue for the quarter was Rs 4,925 crore as against Rs 4,306 crore in the same period previous year.

CG Power and Industrial Solutions , a subsidiary company, in which the Company holds 58% stake, registered a consolidated revenue of Rs 2,413 crore during the quarter as against Rs 2,002 crore. Shanthi Gears, a subsidiary company, in which the company holds 70% stake, registered a revenue of Rs 155 crore during the quarter.

The company’s standalone revenue in Q2 stood at Rs 2,065 crore, compared with Rs 1,970 crore of the same period previous year. The profit before tax (PBT) was Rs 225 crore, down from Rs 245 crore in the same period previous year.

Return on invested capital (ROIC) stood at 45% (annualized) for the quarter ended on Sept 30, 2024 compared with 67% in the previous year same period.