New Delhi: Tube Investments of India Limited, a Murugappa Group firm, on Tuesday introduced the appointment of AN Meyyappan because the Chief Financial Officer with impact from September 9, 2022.
Okay Mahendra Kumar, the current Chief Financial Officer of the corporate, has resigned and he will likely be relieved from the companies of the corporate on September 8, 2022.
The firm additionally reported its Q2 FY23 income at INR 1,957 crores in contrast with INR 1,257 crores in the identical interval the earlier 12 months.
According to an organization regulatory submitting, TII’s consolidated income for the quarter was INR 3,799 crores as in opposition to INR 2,437 crores within the corresponding quarter of the earlier 12 months.
M.A.M Arunachalam (often called Arun Murugappan), Chairman, Tube Investments of India Ltd, stated, “Despite the continuing challenges in supply chain constraints, fuel, and commodity prices, the company has witnessed steady performance during the quarter. Growth was higher in the domestic market in the Engineering, Metal Formed Products and Industrial chains division.”
The engineering income for the quarter was at INR 1,244 crores in contrast with INR 815 crores within the corresponding quarter of the earlier 12 months.
The metal-formed merchandise income for the quarter was at INR 335 crores in contrast with INR 245 crores within the corresponding quarter of the earlier 12 months.
The mobility division has a registered income of INR 246 crores through the quarter in contrast with INR 172 crores within the corresponding quarter of the earlier 12 months.
“The Company is also making steady progress on the launch of its EV three-wheeler and tractor products. The performance of our subsidiaries CG Power and Industrial Solutions Ltd and Shanthi Gears Ltd has been very encouraging delivering strong growth and profitability across all segments,” Arun Murugappan added.
CG Power and Industrial Solutions Ltd, wherein the Company holds a 58.05% stake, registered consolidated income of INR 1,665 crores through the quarter as in opposition to INR 1,050 crores within the corresponding quarter of the earlier 12 months.
Shanthi Gears Ltd., a subsidiary firm within the Gears Business, wherein the corporate holds a 70.47% stake, registered income of INR 99 crores through the quarter as in opposition to INR 67 crores within the corresponding quarter of the earlier 12 months.
Source: auto.economictimes.indiatimes.com