Tube Investments Q4 Results: Murugappa Group stock falls after revenue dips; one-time gain aids profit
Shares of Tube Investments of India Ltd., the Murugappa Group company, fell on Thursday, May 15, in response to its March quarter results.Revenue for the quarter remained flat at ₹1,957 crore, compared to the ₹1,962 crore it reported during the same quarter last year. The company reported a net profit of ₹814 crore, compared to ₹248 crore during the same quarter last year. However, the boost in profitability is due to a one-time gain of ₹569 crore. The one-time gain is due to a fair value gain on Compulsorily Convertible...