Tube Investments Net Profit Rises 74% To Rs 129 Crore In March Quarter

Tube Investments Q4 Results: The company reported a net profit of Rs 129 crore in the January-March quarter results for the financial year 2020-21, up 74 per cent year-on-year

Tube Investments of India (TII) reported a net profit of Rs 129 crore in the January-March quarter results for the financial year 2020-21, up 74 per cent year-on-year, compared to Rs 74 crore in the corresponding quarter of the previous fiscal. According to a regulatory filing by the company to the stock exchanges, the company's revenue for the quarter stood at Rs 1,480 crore, compared to Rs 935 crore in the corresponding quarter of the previous year, marking a growth of 58 per cent year-on-year. Chennai-based Tube Investments is a part of the Murugappa group and specializes in bicycles, engineering, metal-formed products, and chains.  Shares of Tube Investments settled 3.25 per cent lower at Rs 1,192.15 apiece on the BSE. On Friday, June 18, Tube Investments opened at Rs 1,311, swinging to an intra day high of Rs 1,344 and an intra day low of Rs 1,180.10, throughout the trading session.