Tata Metaliks Q1 results: Reports net loss of Rs 12 cr

NEW DELHI: Tata Metaliks Ltd, a subsidiary of Tata Steel, on Friday reported a net loss of Rs 12.36 crore for the quarter ended June 30, mainly on account of lower income.

The company had posted a net profit of Rs 19.62 crore during the corresponding quarter of the previous year, Tata Metaliks said in a BSE filing.

Its total income during April-June 2020 declined significantly to Rs 210.99 crore, against Rs 503.43 crore in the year-ago period.


The firm's expenses were at Rs 227.46 crore during the quarter under review, against Rs 475.90 crore a year ago.

In a statement, Tata Metaliks MD Sandeep Kumar said, "The loss in Q1 was on the expected lines due to curtailed operations but the firm has bounced back with blast furnaces performing well in June, which is reflected in its high productivity, fuel rate and coal injection rates."

He added that the ductile iron pipe plant operations have also done well in June with further visible improvement in July.

Tata Metaliks has a manufacturing unit at Kharagpur, West Bengal, where the company produces pig iron and ductile iron pipes.

The plant's annual hot metal production capacity is five lakh tonnes, out of which two lakh tonnes are converted into DI pipes and three lakh tonnes into pig iron.