Tata Steel arm Tata Metaliks (TML) reported around 25 per cent fall in profit to Rs 19.6 cr for the quarter ended on December 31, 2016 (Q3), as compared to Rs 26.3 cr in the same period of the previous year. The Total income from operations during the quarter was flat at Rs 317.9 cr as compared to Rs 317 cr in the year-ago period, the company stated in a filing to the BSE.
The company said that the figures for the quarter ended December 31, 2016 (Q3) were the balancing figures between the audited figures in respect of the 9 months ended and the unaudited year to date figures up to the Q2 or second quarter of the current financial year. In the quarter under review, the company said that scheme of amalgamation of Tata Metaliks DI Pipes with itself was effective. The scheme had become effective from 22nd December, 2016 with appointed date from 1st April, 2016, the company said.
Tata Metaliks is one of the leading manufacturers of foundry grade pig iron in the nation. TML, a subsidiary of Tata Steel, has its manufacturing plant at Kharagpur, in West Bengal, with an annual production capacity of 345,000 tons of pig iron and turnover of 10.38 billion rupees in 2015-16.
Meanwhile, Tata Metaliks share price traded above 5 per cent on the NSE in the afternoon trade today despite decline in Q3 profit.
Tata Metaliks is analyzed by Dynamic Levels Research and stock analysts as among the multibagger stocks filtered out of the 1700 scrips listed on the National Stock Exchange (NSE).
For more details on the scrip and also fundamentals and financials of the company, please visit Tata Metaliks share price history. Here you will also come across support and resistance levels of the Tata Metaliks stock.
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