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Hot Pursuit News

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(13 May 2024, 15:23)

Tube Investments slides as Q4 PAT plunges 50% YoY

Tube Investments of India slipped 4.36% to Rs 3,911 after the company’s consolidated net profit tumbled 49.82% to Rs 189.53 crore in Q4 FY24 as compared to Rs 311.78 crore recorded in Q4 FY23.

However, revenue from operations jumped 18.86% to Rs 4,345 crore in 4,490.11 as against Rs 3,777.57 crore posted in Q4 FY23.

Profit before exceptional items and tax grew marginally to Rs 400.94 crore in the March quarter as compared to Rs 400.05 crore recorded in the corresponding quarter last year. The company reported exceptional item of Rs 6.12 crore during Q4 FY24.

Total expenses rose by 21.95% YoY to Rs 4,172.39 crore in Q4 FY24. Cost of materials consumed was at Rs 2759.62 crore (up 22.19% YoY) and employee benefits expenses stood at Rs 406.54 crore (up 28.32% YoY) during the quarter.

On segmental front, the company’s revenue from Engineering was at Rs 1275.92 crore (up 22.17% YoY), revenue from Metal Formed Products stood at Rs 385.89 crore (up 11.16% YoY), income fr...

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