Tata Metaliks is down in the red today, slipping 7% to hit an intraday low at Rs.1058.40 and it is currently down 7% at Rs.1068 levels. Its 20% UC for the day is at Rs.908.50.

The stock is down after the company posted a 33% (YoY) decline in net profit at Rs.55 crore on a 24% rise in net revenue at Rs.645 crore.

The higher costs showed the impact on EBITDA margin at 15.5%, which declined sequentially as well as YoY. Raw material costs vis-à-vis sales was at 60% v/s 50% (QoQ).

A subsidiary of Tata Steel, the company is engaged in the manufacture and sale of pig iron and ductile iron pipes, with manufacturing plant at Kharagpur in the state of West Bengal.