New Delhi: Tube Investments of India Restricted, a Murugappa Group firm, on Tuesday introduced the appointment of AN Meyyappan because the Chief Monetary Officer with impact from September 9, 2022.
Ok Mahendra Kumar, the current Chief Monetary Officer of the corporate, has resigned and he might be relieved from the companies of the corporate on September 8, 2022.
The corporate additionally reported its Q2 FY23 income at INR 1,957 crores in contrast with INR 1,257 crores in the identical interval the earlier yr.
In response 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 yr.
M.A.M Arunachalam (referred to as Arun Murugappan), Chairman, Tube Investments of India Ltd, stated, “Regardless of the persevering with challenges in provide chain constraints, gasoline, and commodity costs, the corporate has witnessed regular efficiency in the course of the quarter. Development was larger within the home market within the Engineering, Metallic Shaped Merchandise 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 yr.
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 yr.
The mobility division has a registered income of INR 246 crores in the course of the quarter in contrast with INR 172 crores within the corresponding quarter of the earlier yr.
“The Firm can also be making regular progress on the launch of its EV three-wheeler and tractor merchandise. The efficiency of our subsidiaries CG Energy and Industrial Options Ltd and Shanthi Gears Ltd has been very encouraging delivering sturdy progress and profitability throughout all segments,” Arun Murugappan added.
CG Energy and Industrial Options Ltd, by which the Firm holds a 58.05% stake, registered consolidated income of INR 1,665 crores in the course of the quarter as in opposition to INR 1,050 crores within the corresponding quarter of the earlier yr.
Shanthi Gears Ltd., a subsidiary firm within the Gears Enterprise, by which the corporate holds a 70.47% stake, registered income of INR 99 crores in the course of the quarter as in opposition to INR 67 crores within the corresponding quarter of the earlier yr.
