Jamshedpur, July 23: Tata Metaliks Limited (“TML”) has declared its Consolidated Financial Results for the first quarter (Q1FY’17) ended June 30, 2016.
The Company recorded sales of 99,130 pig iron (including molten metal) and 39,639 tons of Ductile Iron (DI) pipes for the quarter. Consolidated turnover was Rs.333.20 crore for the quarter.
The expansion of the DI pipe plant capacity in Kharagpur has been completed and the new finishing line of the DI pipe plant was commissioned yesterday by Koushik Chatterjee, Group Executive Director, Tata Steel and Chairman, Tata Metaliks Limited.
The expansion of capacity to potentially 200,000 tonnes per annum will give 50% additional volume to TML’s value-added DI pipe business in the future.
Tata Metaliks Performance Highlights:
Cast pipe production of DI pipes was almost at the same level as the last quarter despite adverse size-mix. Finished DI pipe production was 40,776 tons.
9% increase in sales price realization of pig iron over previous quarter despite challenging market environment.
EBITDA at Rs 61.10 crore is 28% higher as compared to Q1FY’16. Profit before tax was higher by 54% as compared to Q1FY’16.