India’s Tata Metaliks Limited (TML), a producer of ductile iron (DI) pipes and pig iron, has reported a net profit of INR 440 million ($5.28 million) during the second quarter (July-September) of the fiscal year 2023-24, up 214 percent year on year, according to a regulatory filing of the company on Wednesday, October 18.
The company reported total revenues of INR 7.55 billion ($90.63 million), a decline of 14 percent year on year.
The company, however, said that sales of DI pipes increased 19 percent and per metric ton realizations were about three percent higher.