Profit before tax slipped 61.7% to Rs 48.70 crore in Q3 FY23 as against Rs 127.02 crore in Q3 FY22

Total expense declined by 12.84% YoY to Rs 926.32 crore during the quarter. Cost of material consumed stood at Rs 687.52 crore (down 15.23% YoY), while finance cost was at Rs 2.62 crore (up 32.99% YoY), employee benefit expense was at Rs 40.15 crore (up 14.35% YoY), during the quarter.

Tinplate Company of India is engaged in manufacturing and sale of Electrolytic Tin Mill products. The scrip was down 0.58% to Rs 349.55 on the BSE.

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Net profit of Tinplate Company of India declined 61.68% to Rs 36.38 crore in the quarter ended December 2022 as against Rs 94.94 crore during the previous quarter ended December 2021. Sales declined 18.65% to Rs 867.06 crore in the quarter ended December 2022 as against Rs 1065.84 crore during the previous quarter ended December 2021.

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Tinplate Company of India will hold a meeting of the Board of Directors of the Company on 16 January 2023.

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Net sales declined by 1.8% to Rs 869.45 crore during the quarter.

Total expenditure increased by 14.9% to Rs 999.86 crore in Q2 FY23 over Q2 FY22.

The company reported a pre-tax loss of Rs 46.50 crore in Q2 FY23 as against a pre-tax profit of Rs 99.99 crore in the same period last year.

The Tinplate Company of India (TCIL), a subsidiary of Tata Steel, is India's leading tinplate producer. TCIL a larger share of the domestic tinplate market. It caters to ~60% of the prime tinplate market and 40%+ of the overall domestic market.

The scrip rose 0.17% to currently trade at Rs 301.70 on the BSE.

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