Tube Investments Q2 PAT surges to Rs 142 cr, revenue rises to Rs 1,920 cr

Tube Investments of India of the diversified conglomerate Murugappa Group has reported a standalone profit after tax (PAT) at Rs 142.46 crore for the July-August 2022 quarter, the company said on Friday.

The company registered standalone PAT at Rs 121.42 crore during the corresponding quarter last year.

For the half-year ending September 30, 2022 the standalone PAT grew to Rs 276.78 crore from Rs 218.38 crore the corresponding period last year.

The standalone total revenue from operations grew to Rs 1,920.32 crore from Rs 1,676.35 crore.

For the six-month period, the standalone total revenue went up to Rs 3,889.36 crore from Rs 2,943.99 crore.

The engineering business reported revenues of Rs 1,192 crore during the quarter ending September 2022 as compared to Rs 1,207 crore last year.

Revenue from the metal formed products was at Rs 371 crore as against Rs 328 crore.

The mobility division registered revenues of Rs 226 crore during the quarter under review as compared to Rs 262 crore reported last year.

The subsidiary TI Clean Mobility Pvt Ltd acquired a 65.2 per cent stake in IPL Tech Electric Pvt LTd which is manufacturing electric heavy commercial vehicles.

The company acquired 76 per cent equity stake in Moshine Electronics Pvt Ltd engaged in making camera modules for mobile phones, a statement said.