Indian pig iron and steel ductile pipe manufacturer Tata Metaliks has reported a net profit of INR 94.80 million ($1.21 million) for the third quarter (October-December) of the fiscal year 2022-23, a decline of 73.6 percent year on year, a company regulatory filing said on Thursday, January 19.
The company achieved sales revenues of INR 7.9 billion ($97 million) in the given quarter, up 14.6 percent year on year, the company statement said.
According to the company, its operational performance was affected by the weak health of one of the blast furnaces which had to be stopped frequently for repairs.
The new ductile iron (DI) pipe plant production was ramped up, producing 25,000 mt of finished pipes in third quarter, up from 13,000 mt in the second quarter of the current fiscal year, the company said.