Tube Investments of India Limited reported unaudited consolidated and standalone financial results for the third quarter ended December 31, 2012. For the quarter, the parent company reported profit from operations before other income, finance costs and exceptional items of INR 0.4 billion  against INR 0.6 billion  for the same period of last year. Profit before tax was INR 0.1 billion  against INR 0.4 billion  for the same period of last year.  Net profit for the period was INR 0.07 billion  against or INR 0.4 per diluted share INR 0.27 billion  or INR 1.46 per diluted share for the same period of last year. Net sales/income from operations was INR 7.6 billion  against INR 8.7 billion  for the same period of last year. The revenue drop was across ail segments. The bicycles sales were affected by sluggish consumer demand while the drop in volumes in Auto Sector significantly impacted the turnover of the other businesses. The margins were under pressure due to volume drop and higher power and fuel costs that could not be passed on to the customers. The company is continuing its tight control on all costs and working capital.

For the nine months, the parent company reported profit from operations before other income, finance costs and exceptional items of INR 1.8 billion  against INR 2.15 billion  for the same period of last year. Profit before tax was INR 1.16 billion  against INR 1.74 billion  for the same period of last year.  Net profit for the period was INR 0.63 billion  against or INR 4.45 per diluted share INR 1.22 billion  or INR 6.56 per diluted share for the same period of last year. Net sales/income from operations was INR 26 billion  against INR 35 billion  for the same period of last year.

For the quarter, the group reported profit from operations before other income, finance costs and exceptional items of INR 1.9 billion  against INR 1.32 billion  for the same period of last year. Profit before tax was INR 1.63 billion  against INR 1.16 billion  for the same period of last year.  Net profit for the period was INR 0.68 billion  against or INR 3.65 per diluted share INR 0.56 billion  or INR 2.98 per diluted share for the same period of last year. Net sales/income from operations was INR 17.8 billion  against INR 18.2 billion  for the same period of last year.

For the nine months, the group reported profit from operations before other income, finance costs and exceptional items of INR 6.6 billion  against INR 4 billion  for the same period of last year. Profit before tax was INR 5 billion  against INR 3.8 billion  for the same period of last year.  Net profit for the period was INR 2.3 billion  against or INR 12.23 per diluted share INR 1.92 billion  or INR 10.3 per diluted share for the same period of last year. Net sales/income from operations was INR 53.3 billion  against INR 45.1 billion  for the same period of last year.