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Tube Investments Q4 PAT Plunges Nearly 50% YoY to Rs 189.53 Cr

May 13, 2024

By: BlinkX Research Team

Tube Investment of India’s consolidated net profit tumbled 49.82% to 189.53 crore rupees for the quarter ended March 2024. However, revenue from operations jumped by 18.86% to 4,394 crore rupees in the fourth quarter of 2024 as against 3,777.57 crore rupees posted in Q4 FY23.

Key Takeaways from Tube Investment’s Performance:

• Consolidated net profit plummeted 49.82% to 189.53 crore rupees in Q4 FY24.
• Revenue jumped 18.86% to 4,394 crore rupees in the fourth quarter ending March 2024.
• BoD recommends a final dividend of Rs 1.50 per share.

Meanwhile, revenue from the company’s Gears and Gear Products segment increased 24.62% on year to 152.95 crore rupees. Further, revenue from Power Systems was 820.98 crore rupees up 38.54% on year.

Separately, the company’s board has recommended a final dividend of Rs 1.50 per share for the financial year ending March 24.

About the company:

Tube Investments of India, a Murugappa group company, is one of India's leading manufacturers of a wide range of precision-engineered and metal-formed products for major industries such as automotive, railway, construction, mining, agriculture, etc. The company is also a leading manufacturer of bicycles in India with a range of iconic brands and a strong market presence. It has a manufacturing capacity of around 3 million bicycles per year.