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In its Q3 results released on Wednesday, the pipes manufacturer reported a consolidated profit after tax (PAT) of ₹19.15 crore in the December quarter, marking a 33.65% year-on-year (YoY) from ₹14.33 crore in the same period of the preceding financial year.
The steel pipes supplier posted a 20.78% YoY rise in revenue from operations in the third quarter of the current financial year at ₹761.02 crore. Its revenue from operations stood at ₹630.09 crore in the corresponding quarter of the previous year.
The company’s total sales volumes increased by 26% YoY to 1.24 lakh tonnes in the October to December 2024 period as opposed to 0.98 lakh tonnes in the same period of the preceding fiscal year, led by a rise in demand for steel tubes or structural steel products.
At the operating level, Hi-Tech Pipes reported an EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) of ₹40.23 crore in Q3FY25, marking a healthy 27.4% rise compared to ₹31.57 crore in the year-ago period.The company’s EBITDA per tonne gained marginally to ₹3,238/metric tonne (MT) in the quarter under review from ₹3,205/MT in the corresponding quarter of the preceding fiscal.
For the 9-month period ended December 2024, the company’s revenue from operations increased 15.64% YoY to ₹2,333.89 crore against ₹2,018.27 crore in the year-ago quarter. The company’s net profit increased 68.61% YoY during the period to ₹55.31 crore compared to ₹32.81 crore in Q3FY24.
“We are pleased to report another strong quarter, reflecting our commitment to growth, operational efficiency, and financial prudence. Our 21% revenue growth and 34% rise in PAT underscore our market leadership and execution excellence,” said the Chairman and Managing Director of Hi-Tech PipesAjay Kumar Bansal, in a press release dated February 12.
Shares of Hi-Tech Pipes gained as much as 2.2% to hit an intraday high of ₹121.8 per piece on the BSE on Wednesday. However, the stock pared some of its early gains to trade 2.01% lower at ₹116.75 apiece on the BSE at 1:16 pm.
(Edited by : Poonam Behura)
First Published: Feb 12, 2025 2:57 PM IS
