Tinplate Company of India posted its results for the quarter ended September on Monday.
What Happened: The Tata Group company’s revenue from operation slid down 2% to ₹941.79 crore in the September quarter from the ₹959.54 crore revenue it posted in the same quarter last year. The company’s losses however narrowed massively to ₹2.28 crore from ₹35.09 crore loss it posted in the July-September period of last year.
Shares of the company that were trading higher ahead of the results on Monday continued the same trajectory after the results came out just before market close.
Earlier in the month, the Tata Steel subsidiary had informed that the Office of the Deputy Commissioner of Commercial Taxes, Jamshedpur Circle, has imposed a penalty of ₹39.9 crore on the company.
Price Action: Tinplate’s share price was up 1.53% to close at ₹395.25 on Monday.
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