Chennai, Aug 10 (IANS): Diversified products company Tube Investments of India Ltd closed the first quarter on 2015-16 with a lower net profit and a marginal growth in its revenue.
In a statement issued here, the company said its revenue for the quarter was higher by three percent at Rs.1,009 crore as against Rs.977 core for the corresponding quarter in the previous year.
Net profit for the quarter under review was Rs.18 crore, down from Rs.19 crore for the corresponding period in the previous year.
"The performance of the bicycle division was good in terms of both revenues and profits. The metal forming and engineering divisions further improved on their leadership positions," managing director L.Ramkumar was quoted as saying in the statement.