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Tube Investments of India, Murugappa Group company had reported a 18% increase in its consolidated net profits for the second quarter ended September 30, to Rs 100.18 crore.
The city-based company had reported consolidated net profits at Rs 84.83 crore during the corresponding period of the previous year.
For the half-year period ended September 30, 2014 consolidated net profits grew by 14.5%, to Rs 189.70 crore from Rs 165.57 crore registered during the same period of the previous year.
Consolidated total income from operations for the period July-September 30, 2014 rose to Rs 2,483.76 crore from Rs 2,221.87 crore registered during the same period of the previous year.
For the six month period ending September 30, consolidated total income grew to Rs 4,860.92 crore from Rs 4,324.42 crore.
"The positive growth in two wheeler and passenger car markets enabled engineering and metal forming businesses to maintain their growth momentum," Tube Investments of India Managing Director L Ramkumar said.
"...The cycle business continued to register a growth in the current quarter compared to the corresponding quarter in previous year. The company inaugurated the large diameter tube plant in Tiruttani in October 2014. This would help TI leverage the growth in the infrastructure segment," he said.
Shares of the company ended at Rs 346.75 apiece, down 0.94% over previous close in BSE.
