Tata Metaliks Ltd informed the Bombay Stock Exchange (BSE) on January 20 that the company registered a consolidated net profit of Rs 26.04 crore in the third quarter (Q3) ending December 31, 2015, which was an increase of 34.64% compared to Rs 19.34 crore reported in the same period of the previous year.
On a quarter-on-quarter basis, the net profit is up 21.22% from Rs 21.48 crore registered in the second quarter ending September 30, 2015.
The Q3 net profit increased because consumption of raw materials has gone down drastically in this quarter.
The consolidated results for the first nine months from April to December stood at Rs 74.17 crore, down 32.03% from 109.13 crore reported during the same period last year.
The net income from operations decreased to Rs 291.86 crore in Q3 of 2015-16, down 8.69% from Rs 319.66 crore in Q3 of 2014-15.