Tata Metaliks plunges up to 9% as Dec qtr profit declines

NEW DELHI: Shares of Tata Metaliks plummeted up to 9 per cent in early trade Friday as the metal player reported lower profit at Rs 35.65 crore in the December 2021 quarter against Rs 75.18 crore in the December 2020 quarter.

The company’s revenue jumped to Rs 689.80 crore from Rs 526.23 crore during the period under review.

The counter plunged to a low of Rs 847 as against the previous close of Rs 923.10 on the National Stock Exchange. The scrip was last trading 4 per cent lower.

For the quarter under review, the company reported total income of Rs. 693.12 crore as compared to Rs.528.33 crore during the period ended December 31, 2020.

In October-December, Tata Metaliks reported earnings per share of Rs 11.29 versus Rs.23.81 for the period ended December 31, 2020.

The company reported total income of Rs 1,947.53 crore during the 9 months period ended December 31, 2021 as compared to Rs 1,261.16 crore during the 9 months period ended December 31, 2020, reports said.

The net profit for the nine months ended December 31, 2021, was at Rs 184.99 crore as against a net profit of Rs 144.82 crore for the same period a year ago.

Tata Metaliks reported earnings per share of Rs.58.59 for the 9 months period ended December 31, 2021, as compared to Rs.45.86 for the 9 months period ended December 31, 2020, reports said.