Tube Investments of India (TII), one of the leading auto components, bicycles and engineering companies and part of the Murugappa Group, has reported a 6% growth in its net profit for the year ended March 31, 2012, to R180 crore against R170 crore reported in the previous financial year.
The income from operations during the year under review grew 17% to R3,459 crore compared to R2,963 crore in the previous financial year. TII sales in the Q4 of last financial year grew 11% to R871 crore against R782 crore for the same period last year.
The net profit for the quarter grew 26% to R58 crore compared to R46 crore reported in the corresponding quarter of the previous financial year.
Cholamandalam Investment & Finance Company, a subsidiary in the financial service business, registered growth of 71% in the disbursements for the quarter. Profit after tax (PAT) for the quarter was at R61crore against R36 crore for the same period last year, registering a growth of 69%.
