Tube Investments of India Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 30, 2023 at 04:46 am EDT
Share
Tube Investments of India Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 41,692.6 million compared to INR 36,269.6 million a year ago. Revenue was INR 43,672.3 million compared to INR 37,911.3 million a year ago. Net income was INR 2,633.7 million compared to INR 2,138.9 million a year ago. Basic earnings per share from continuing operations was INR 14.29 compared to INR 11.06 a year ago. Diluted earnings per share from continuing operations was INR 14.27 compared to INR 11.03 a year ago.
For the six months, sales was INR 79,367.3 million compared to INR 72,595.9 million a year ago. Revenue was INR 83,133.7 million compared to INR 75,905.1 million a year ago. Net income was INR 4,782.5 million compared to INR 4,084.5 million a year ago. Basic earnings per share from continuing operations was INR 25.21 compared to INR 20.99 a year ago. Diluted earnings per share from continuing operations was INR 25.17 compared to INR 20.93 a year ago.
Tube Investments of India Limited is an India-based engineering company. Its divisions include Mobility, Engineering, Metal-Formed Products, and Others. The Mobility segment comprises standard bi-cycles, special bi-cycles, such as alloy bikes and specialty performance bikes, fitness equipment and three-wheeler electric vehicles. The Engineering segment comprises cold rolled steel strips and precision steel tubes, such as cold drawn welded tubes and electric resistant welded tubes. The Metal Formed Products segment comprises of automotive chains, fine blanked products, stamped products, roll-formed car doorframes and cold rolled formed sections for railway wagons and passenger coaches. The Other product segment includes industrial chains and other new businesses.