The Board of Directors of Tube Investments of India Limited (TII) approved the financial results for the Quarter ended 31 December 2019. According to a press release, TII’s Revenue for the quarter was lower by 27 per cent at Rs 976 crore as against Rs 1341 crore in the corresponding quarter of the previous year.
The profit after tax for the quarter was at Rs 78 crore as against Rs 77 crore in the corresponding quarter of the previous year. Return on Capital Employed (ROCE) for the period ended 31 December 2019 is at 21 per cent as against 20 per cent in the corresponding period of the previous year. The Company generated cumulative free cash flow of Rs 341 crore and at 133 per cent of PAT.