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Sequentially, the company’s revenue incurred a 2% drop from ₹4,995.24 in the preceding three months.
Tube Investments of India’s net profit for the quarter under review dropped sharply by more than 66.16% year-on-year to ₹280.15 crore in Q3 from ₹828.04 crore in the corresponding period of the last financial year.
The net profit for the third quarter dropped over 6% from ₹299.17 crore in the quarter ended September 2024.
For the nine months ended December 2024, Tube Investments of India’s total income stood at ₹14,527.50 crore, marking a 15% year-on-year increase from ₹12,568.56 in the year-ago period.
Net profit for the period under review slumped nearly 16% to Rs 1458.53 crore from Rs 1732.99 crore in the nine months ended December 2023.
Opening marginally higher at ₹3186.10 apiece on the BSE, shares of Tube Investments of India Ltd. dropped over 6% to touch an intraday low of ₹2980.6 on Monday. Tube Investments of India further declared an interim dividend of 2 per equity share with a face value of 1 each for the financial year ending March 31, 2025.
The record date for determining the members eligible to receive the above-mentioned interim dividend was fixed as Friday, February 7, the company said. The interim dividend will be paid to shareholders on or before Friday, February 28.
Shares of Tube Investments of India saw some recovery during the day’s trade and closed 2.8% lower at Rs 3085 apiece on the BSE. In comparison, the benchmark Sensex ended the session 0.41% lower at 77,186.74 points.
(Edited by : Poonam Behura)