Tube manufacturers Cubex Tubings has seen large shareholder Dipak Kanayalal Shah increase his stake in the firm, from 4.76% to 6.19% in the most recent quarter. The company, founded in 1979, is a producer of copper and copper base alloy products. It manufactures Tubes, Rods, Strips, Profiles and Wires, and has manufacturing facilities at Patancheru and Pondicherry in India.
The smallcap firm had a respectable showing in its March 2017 quarter - net profit for the firm had risen 75% to Rs 0.21 crore in the quarter, compared to Rs 0.12 crore during the previous quarter ended March 2016. Sales for CUBEXTUB rose 40.61% to Rs 16.24 crore in the quarter, compared to Rs 11.55 crore during the quarter last year.