Hi-Tech Pipes Q4 Profit Up 59% to Rs 18 Cr

New Delhi, May 26 (PTI) Steel pipe maker Hi-Tech Pipes on Monday posted a 59 per cent rise in consolidated net profit to around Rs 18 crore for the March quarter, driven by higher income.

It had recorded a net profit of Rs 11.12 crore in the January-March quarter of 2023-24, the company said in an exchange filing.

The company's total income increased to Rs 733.75 crore from Rs 680.75 crore a year ago.

Sales volume increased 8 per cent to 1,16,032 MT from 1,07,721 MT in Q4 FY24, reflecting higher demand.

For the entire FY25, the net profit rose 66 per cent to Rs 72.95 crore against Rs 43.93 crore in FY24. Revenues during the year grew by 14 per cent to Rs 3,068 crore from Rs 2,699 crore, supported by record sales volumes.

Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes, said, "FY25 marks a defining year for Hi-Tech Pipes, with 14 per cent revenue growth and a 66 per cent surge in profitability, driven by operational excellence and strategic capacity expansion".

Hi-Tech Pipes owns and operates six integrated manufacturing facilities in Uttar Pradesh, Gujarat, Andhra Pradesh and Maharashtra, having a combined installed capacity of 7,50,000 metric tonnes (MT) per annum.