Hi-Tech Pipes gained 4.74% to Rs 161.45 after its consolidated net profit jumped 62.17% to Rs 18.05 crore in Q1 FY25 as against Rs 11.13 crore posted in same quarter last year.
However, revenue from operations rose by 27.3% YoY to Rs 866.98 crore in the quarter ended 30 June 2024.
Profit before exceptional items and tax surged 61.4% YoY to Rs 24 crore in first quarter of FY25.
During the quarter, total expenses spiked 26.67% YoY to Rs 843.51 crore. Cost of material consumed was Rs 716.88 (up 19.67% YoY) while finance costs stood at Rs 14.08 crore (down 1.26% YoY) and employee benefit expenses was at Rs 8.53 crore (down 7.48% YoY) during the period under review.
Hi-Tech Pipes is in the business of manufacturing of ERW steel round & section pipes, cold rolled strips & engineering products and distribution of the same.
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First Published: Aug 12 2024 | 2:05 PM IST
