Hi-Tech Pipes Q3 Profit Surges 34% to Rs 19 Crore

New Delhi, Feb 12 (PTI) Steel pipe maker Hi-Tech Pipes on Wednesday reported a 34 per cent rise in consolidated profit after tax to Rs 19.15 crore in the December quarter, on account of increased revenue.

It posted a profit after tax (PAT) of Rs 14.33 crore in the year-ago period, the company said in a statement.

The company's revenue from operations increased 20.78 per cent to Rs 761.02 crore in the reporting quarter from Rs 630.09 crore in the same period a year ago, it said.

Its EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at Rs 40.23 crore during the quarter compared to Rs 31.57 crore a year earlier, a rise of 27.42 per cent.

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.