Tata Metaliks fell 5.56% to Rs 871.30 after net profit declined 52.58% to Rs 35.65 crore on 31.08% rise in net sales to Rs 689.80 crore in Q3 December 2021 over Q3 December 2020.
Profit before tax fell 54% to Rs 50.3 crore in Q3 FY22 over Q3 FY21.Total expenses increased 53.28% to Rs 642.83 crore in Q3 FY22 over Q3 FY21, due to a sharp rise in raw material costs (up 67.25% YoY).
During the quarter, the company's revenue from Pig Iron segment grew 23.03% to Rs 534.85 crore and revenue from Ductile Iron Pipe segment climbed 57.77% to Rs 331.94 crore over the same quarter last year.
A subsidiary of Tata Steel, Tata Metaliks has its manufacturing plant at Kharagpur, West Bengal, India which produces pig iron and ductile iron pipes in India. The plant's annual hot metal production capacity is 500,000 tonnes out of which 200,000 tonnes is converted into Ductile Iron (DI) pipes and 300,000 tonnes into pig iron.
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