JTL Industries reports 47% rise in net profit - Details

It had posted a profit of Rs 20.49 crore in the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

The company's net profit in the April-December period increased to Rs 83.46 crore from Rs 53.47 crore in the year-ago period

Steel pipes maker JTL Industries Ltd on Friday reported a 47 per cent rise in its net profit at Rs 30.18 crore in the third quarter ended December 31.

It had posted a profit of Rs 20.49 crore in the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

Its total income rose to Rs 568.33 crore from Rs 344.42 crore in the year-ago quarter.

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Expenses were at Rs 527.99 crore as against Rs 316.70 crore a year ago.

According to the company, its revenue from operations grew by 65.26 per cent from Rs. 343.33 crore in Q3FY23 to Rs 567.38crore in Q3 FY24 and by 46.13 per cent from Rs. 1,077.294 million in 9M FY23 to Rs. 1,574.2 crore in 9M FY24. This growth was led by robust sales volume that not only exceeded our previous records but also surpassed the sales figure achieved in FY23.

The company's net profit in the April-December period increased to Rs 83.46 crore from Rs 53.47 crore in the year-ago period, the filing said.

JTL Industries is a leading producer of electric resistance welded steel pipes with a production capacity of more than 6 lakh metric tonnes per year.

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