Tube Investments Q3 profit up 13.81 per cent to Rs 87.14 crore

Tube Investments of India, a Murugappa Group company, today reported 13.81 per cent rise in consolidated net profit at Rs 87.14 crore for the third quarter ended December 31, 2014.
The company had reported a consolidated net profit of Rs 76.56 crore during the October-December period of the previous fiscal.
Consolidated net sales of the company during the period under review went up by 10.11 per cent to Rs 2,327.76 crore as against Rs 2,113.96 crore during the same period last year, TII said in a statement.
"The growth in two wheelers and passenger cars segments slowed down during the quarter. The volumes were lower compared to the previous quarter. The Company continued to execute on its Operational Excellence Programs," said TII Managing Director L Ramkumar.

The board of the company has approved an interim dividend of Rs 1.50 per share (75 per cent) for the financial year 2014-15, TII further informed.
Shares of the company today closed at Rs 364.70 per scrip on BSE, up 0.50 per cent from previous close.