Tata Metaliks surges 7% after turnaround in Q1 net profit to Rs94.72cr

The company’s revenue jumped to Rs602.97cr in Q1FY22 from Rs209.94cr in Q1FY21.

Jul 14, 2021 09:07 IST India Infoline News Service

Tata Metaliks
Tata Metaliks Limited, a subsidiary of Tata Steel, on Tuesday reported a net profit of Rs94.72cr for the first quarter ended June 30, 2021, against a net loss of Rs12.36cr in the same quarter last year.

The company's revenue jumped to Rs602.97cr in Q1FY22 from Rs209.94cr in Q1FY21. Expenses were at Rs471.62cr during the quarter under review, up from Rs227.46cr a year ago.

During early trade, Tata Metaliks Ltd was trading at Rs1,283.85 per piece up by Rs81.8 or 6.81% from its previous closing of Rs1,202.05 per piece on the BSE.
The scrip opened at Rs1,231 and has touched a high and low of Rs1,295 and Rs1,230 respectively during intraday trade on Wednesday so far. 

Tata Metaliks has manufacturing facilities at Kharagpur, West Bengal, which produces pig iron and DI pipes.

“The company’s production and sales were impacted during the quarter due to government imposed lockdown to contain the spread of second wave of Covid-19. The company’s operations have gradually come to pre-Covid level after ease in restrictions. The company continues to be vigilant due to reintroduction of restrictions in some states due to resurgence of Covid-19 cases,” the company said in a filing on Tuesday.

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