Hi-Tech Pipes reported a strong Q1 FY25 with net profit surging over 200% to Rs 18.05 crore on higher revenues. The company's revenue also saw a significant increase.
New Delhi, Aug 12 (PTI) Steel pipes maker Hi-Tech Pipes on Monday posted an over two-fold growth in consolidated net profit at Rs 18.05 crore in the quarter ended June 2024, on higer revenues.
It had reported a net profit of Rs 8.03 crore in the April-June period of the preceding 2023-24 financial year, the company said in an exchange filing.
The company's revenues surged 35 per cent to Rs 866.97 crore, from Rs 642.16 crore in the year-ago quarter.
On a standalone basis, the company has reported a net profit of Rs 15.36 crore, up from 6.58 crore in the same period a year ago.
The standalone revenues stood at Rs 723.44 crore, as against Rs 520.25 crore in the year-ago quarter.
Hi-Tech Pipes owns and operates six integrated manufacturing facilities having a combined installed capacity of 7,50,000 metric tonnes per annum.
The company is also scaling up its captive renewable energy capacity to 13.5 MW by December-end.
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