Tata Metaliks at new low

Tata Metaliks hit a new 52-week low today at Rs.541, going down 7% on the back of its poor show for Q1FY20.

Engaged in the manufacture of pig iron and ductile iron pipes, the company reported a 36.5% (YoY) fall in net profit at Rs.19.42 crore though revenue showed a 7% rise at rs.499 crore.

In terms of segment-wise break-up, revenue from pig iron was up 3.5% at Rs.370 crore and ductile iron (DI) pipe revenue rose 13% at Rs.257 crore.

Its total expenses rose from Rs.427 crore to Rs.476 crore and this is what affected the operating profit, which was down 32% at Rs.45 crore and margins slipped from 14.11% to 9.01%.