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Tata Metaliks shares jump over 7% as Q2 EBITDA rises 1.6 times

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Tata Metaliks shares jump over 7% as Q2 EBITDA rises 1.6 times

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The sentiment was lifted after the firm's September quarter EBITDA rose 1.6 times and debt was reduced by over Rs 92 crore.

Tata Metaliks shares jump over 7% as Q2 EBITDA rises 1.6 times
The share price of Tata Metaliks rose over 7 percent on Tuesday on robust September quarter results. The sentiment was lifted after the firm's September quarter EBITDA rose 1.6 times and debt was reduced by over Rs 92 crore.
The stock rose as much as 7.4 percent to the day's high of Rs 598.10 per share on BSE.
Its net profit also jumped manifold to Rs 82 crore in Q2, mainly on account of reduced expenses. The company had posted a net profit of Rs 23 crore in the corresponding quarter of the previous financial year.
Its total income in the second quarter ended September 30 also rose to Rs 521.84 crore, from Rs 517.06 crore a year ago. Total expenses reduced to Rs 431.63 crore in the quarter under review, from Rs 494.10 crore in the year-ago period.
A subsidiary of domestic steel giant Tata Steel, Tata Metaliks has a manufacturing plant at Kharagpur, West Bengal, where pig iron and ductile iron pipes are produced.
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