CHENNAI: Murugappa group company Tube Investments of India Ltd, has reported a consolidated profit at Rs 324.87 crore for the quarter ending December 31, 2022.

The manufacturer of precision steel tubes reported a consolidated profit at Rs 390.04 crore during the corresponding quarter last year. For the nine-month period ending December 31, 2022, a consolidated profit of Rs 848.35 crore was made (Rs 765.82 crore).

The total income during the quarter under review stood at Rs 3,716.10 crore against Rs 3,435.71 crore. The consolidated total income for the nine month period ending December 31, 2022 grew to Rs 11,351.87 crore from Rs 9,186.63 crore last year. Considering the strong demand, the board approved capacity expansion plan at its large diameter precision steel tube manufacturing plant in Tiruttani at a cost of Rs 141 crore.

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