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Shares of Tube Investments settled 3.25 per cent lower at Rs 1,192.15 each on the BSETube Investments of India (TII) reported a net profit of Rs 129 crore in the January-March quarter results for the financial year 2020-21, up 74 per cent year-on-year, compared to Rs 74 crore in the corresponding quarter of the previous fiscal.
According to a regulatory filing by the company to the stock market, the business's earnings for the quarter stood at Rs 1,480 crore, compared to Rs 935 crore in the matching quarter of the previous year, marking a development of 58 percent year-on-year.
Chennai-based Tube Investments is a part of the Murugappa group and concentrates on bicycles, engineering, metal-formed items, and chains.
For the financial year 2020-21, the profits stood at Rs 4,256 crore, compared to Rs 4,276 crore in the previous fiscal year.
The business's total earnings in the quarter grew to Rs 1,507.06 crore, from Rs 958.82 crore taped in the year-ago period.The business's board of directors had suggested a last dividend of Rs 1.50 per share for the fiscal year 2020-21.
Tube Investments stated an interim dividend of Rs 2 per share in February 2021 and the same was paid to the investors in March this year.Tube Investment's board likewise approved fresh long-lasting borrowing of a sum of Rs 200 crore to meet the fund needs throughout the fiscal year 2021-22, by providing privately placed secured non-convertible debentures, in one or more tranches.Shares of Tube Investments settled 3.25 percent lower at Rs 1,192.15 apiece on the BSE.
On Friday, June 18, Tube Investments opened at Rs 1,311, swinging to an intra day high of Rs 1,344 and an intra day low of Rs 1,180.10, throughout the trading session.
Business
Tube Investments Net Earnings Increases 74% To Rs 129 Crore In March Quarter
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