Tata Metaliks on Tuesday posted profit for the second quarter of FY24 at Rs 44.16 crore, up 209 per cent in comparison to Rs 14.29 crore during the same period last year. It posted revenue from operations at Rs 754.71 crore, down 13.9 per cent as against Rs 876.98 crore during the second quarter of FY23. The company EBITDA stood at Rs 90.1 crore and EBITDA margin was at 11.9 per cent.
The company recorded a total income during the quarter ended September 2023 at Rs 758.05 crore, down 14 per cent from Rs 881.77 crore during the same period of FY23. Meanwhile, total expenses during the quarter in review stood at Rs 696.41 crore, down 19.2 per cent in comparison to Rs 861.64 crore during the second quarter of FY23.
In terms of revenue across business segments, Tata Metaliks’ pig iron business witnessed a major decline in revenue at Rs 483.25 crore, down 32.1 per cent from Rs 711.33 crore during Q2FY23. The company’s ductile iron pipe vertical posted Q2 revenue at Rs 583.27 crore, up 30.4 per cent as against Rs 447.33 crore during the second quarter of FY23.