The revenue of Tube Investments of India Ltd. (TII) for the quarter ended June 30, 2016, was higher by six per cent at Rs. 1,146 crores as against Rs. 1,076 crores for the corresponding quarter in the previous year. The profit before interest and tax for the quarter was Rs. 88 crores (Rs. 62 crores). PAT for the quarter was higher by 135 per cent at Rs. 42 crores as compared to Rs. 18 crores.
Mr. L. Ramkumar, Managing Director, said: “The pick-up in all segments of the auto sector and reduction in finance charges due to loan repayments helped the company record a PBT of Rs. 64 crores as against Rs. 27 crores for the corresponding quarter in the previous year, a growth of 135 per cent”.
The Engineering Division has registered volume growth of 19 per cent in precision tubes during the quarter as compared to the corresponding quarter in the previous year. The new plant set up at Tiruttani improved its output and profitability.