Chennai: The board of directors of Tube Investments of India Limited (TII), have announced the financial results for the quarter ended 30 June and said the firm witnessed a drop of eight per cent in revenue to Rs 1,252 crore.
The firm said it was because of the de-growth in auto industry as production of passenger vehicles and two-wheelers dropped by 12 per cent and 10 per cent, respectively.
The company saw the highest ever PBT (before exceptional items) of Rs 107 crore, a growth of 36 per cent over Q1 of last year, said a release. PBT after exceptional item is Rs 126 crore.
ROCE improved to 23 per cent from 18 per cent in Q1 of previous year (excluding exceptional item) and free cash flow to PAT (before exceptional items) at 120 per cent, the release said.
On a standalone basis, TII’s profit after tax for the quarter was at Rs 88 crore, against Rs 54 crore in the corresponding quarter of the previous year.
The company said it generated free cash flow of Rs 83 crore during Q1 and at 120 per cent of PAT.