Tube Investments of India Q1 profit down 15% at ₹168.6cr
Business
Tube Investments of India, part of the Murugappa Group, saw its first-quarter profit drop by 15% to ₹168.6 crore, even though revenue jumped 17% to ₹6,215.1 crore.
Margins got tighter, slipping from 10.3% to 8.8%, while EBITDA stayed steady at ₹547.8 crore.
Engineering and power systems drive revenue
Most of the revenue boost came from Engineering and Power Systems, but semiconductor sales actually fell this quarter.
CG Power, a key subsidiary, had a solid run with higher revenue and profit before tax; meanwhile, Shanthi Gears struggled, seeing both its revenue and profits shrink compared to last year.