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A worker stacks steel pipes in Ahmedabad

Hi-Tech Pipes has posted over two-fold jump in consolidated net profit at Rs 10.53 crore in the September quarter, on higher income.
It had clocked Rs 4.34 crore net profit in the July-September period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Saturday.
The company's total income rose to Rs 746.73 crore in the quarter under review, from Rs 599.40 crore in the year-ago quarter.
In a separate statement, Hi-Tech Pipes said total sales volumes increased by 17.45 per cent to 1 lakh tonnes, as compared to 0.85 lakh tonnes in Q2 FY23, led by better demand for steel tubes/structural steel products and value-added products.
Hi-Tech Pipes' Managing Director Ajay Kumar Bansal said during this quarter the company reported its highest ever revenue from operations. The healthy order book from government projects like Jal Jeevan Mission helped in maintaining a good momentum.
"We will continue to increase the share of value-added products in our product basket an

Press Trust of India

Steel pipes

Hi-Tech Pipes has reported around an 80 per cent rise in its net profit to Rs 8.02 crore during the quarter ended June 30, mainly due to higher revenues.
It had clocked Rs 4.48 crore net profit during the April-June period of the preceding 2022-23 fiscal, the company said in a statement on Monday.
The company's revenue from operations also rose 24 per cent to Rs 642.17 crore in Q1 FY24 from Rs 516.17 crore in the year-ago quarter.
Its total sales volumes increased to 84.5 thousand tonnes over 70 thousand tonnes in Q1FY23.
"The company has registered sales volume growth of 21 per cent. This volume growth has been majorly contributed by increased sales of value-added products like GP coils, colour-coated coils and sheets. The company is well positioned in this market segment," Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes, said.
On business updates, he said the greenfield facility of large diameter pipes at Makhiyav, Sanand in Gujarat, is expected to start commerc

News

Hi-Tech Pipes Q2 results: Net profit grows over two-fold to Rs 10.53 cr

Hi-Tech Pipes Q1 net profit grows around 80% to Rs 8 cr, revenue up 24%