Tinplate Company of India surged 5.49% to Rs 251.90 after the company posted a net profit of Rs 68.62 crore in Q1 FY22 compared with net loss of Rs 6.90 crore registered in Q1 FY21.
Revenue from operations increased 128.42% to Rs 803.90 crore in Q1 FY22 compared with Rs 351.94 crore in Q1 FY21.Net profit surged 22.19% and net sales rose 15.70% in Q1 FY22 over Q4 FY22. Profit before tax rose 23.5% to Rs 92.04 crore in Q1 FY22 over Q4 FY21. The company posted a pre-tax loss of Rs 6.79 crore in Q1 FY21.
Shares of Tinplate Company of India hit a 52-week high of Rs 262.55 in intraday today.
Tinplate Company of India is an associate of Tata Steel. The company manufactures various grades of electrolytic tinplates, tin-free steel sheets and full hard cold rolled sheets (FHCR) used for metal packaging. Tinplate Company is in the business of providing cost effective metal packaging solutions for processed edible products.
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