Tube Investments of India Limited Reports Unaudited Consolidated and Standalone Financial Results for the Third Quarter and Nine Months Ended December 31, 2012
January 31, 2013 at 12:02 pm
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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.
Cholamandalam Financial Holdings Limited is a core investment company and all the activities of the Company revolve around the main business in India. The Company holds investments in the financial services/risk management companies, which include Cholamandalam Investment and Finance Company Limited (CIFCL), Cholamandalam MS General Insurance Company Limited (CMSGICL) and Cholamandalam MS Risk Services Limited (CMSRSL). CIFCL is a non-banking finance company engaged in lending business offering vehicle finance, home loans, loan against property, SME loans, secured business and personal loans, consumer & small enterprises loans and a variety of other financial services to customers. CMSGICL is engaged in general insurance business offering a range of insurance products that include motor, health, property, accident, engineering, liability, marine, travel and crop insurance for individuals and corporates. CMSRSL offers comprehensive risk management and engineering solutions.
Tube Investments of India Limited Reports Unaudited Consolidated and Standalone Financial Results for the Third Quarter and Nine Months Ended December 31, 2012