Tube Investments’ Q1 net profit jumps 24%

Tube Investments of India has reported unaudited results for the first quarter ended June 30, 2011.

The company’s profit for the quarter ended June 30, 2011 has increased by 23.60% at Rs 50.02 crore as compared to Rs 40.47 crore for the corresponding quarter last year. Its total revenue has grown by 21.92% at Rs 874.26 crore for the quarter under review from Rs 717.08 crore for the same quarter last year.

Tube Investments of India is a flagship company of the $2.4 billion Murugappa Group. It is engaged in manufacturing of precision steel tubes and strips, car doorframes, automotive and industrial chains and bicycles.