Tata Metaliks dips 7% on reporting weak operating margin in Q2

Shares of Tata Metaliks dipped 7 per cent to Rs 1,058.40 on the BSE in Tuesday’s intra-day trade after reporting disappointing performance on the margin front for the September quarter (Q2FY22) due to higher raw material cost.

For Q2FY22, Tata Metaliks' revenue from operations grew 24 per cent year-on-year (YoY) to Rs 644.84 crore. However, earnings before interest, taxes, depreciation, and amortization (EBITDA) margin came in lower both quarter-on-quarter (QoQ) as well as YoY. EBITDA margin came in at 15.5 per cent, lower by 998 basis points (bps) QoQ and 559 bps YoY. The company’s profit after tax declined 33 per cent at Rs 54.62 crore as against Rs 82 crore in the year-ago quarter.