Tata Metaliks tumbled 5.51% to Rs 1073 after the company's net profit declined by 33.4% to Rs 54.62 crore in Q2 FY22 from Rs 82 crore in Q2 FY21.
Revenue from operations, however, rose by 24.1% YoY to Rs 644.84 crore during the quarter.
Total expenses increased by 31.4% to Rs 566.95 crore in Q2 FY22 over Q2 FY21, due to a sharp rise in raw material costs (up 51.5% YoY).
Profit before tax in the second quarter stood at Rs 81.01 crore, down by 10.2% from Rs 90.21 crore recorded in the same period last year.
Tata Metaliks manufactures pig iron and ductile iron pipes.
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