Hi-Tech Pipes Sees Robust Growth with 34% Surge in Q3 Profits

Hi-Tech Pipes reported a 34% increase in consolidated profit after tax to Rs 19.15 crore for the December quarter, driven by higher revenue. The company's revenue grew by 20.78% to Rs 761.02 crore, and its EBITDA rose 27.42% as it scales up manufacturing and renewable energy capacities.

In impressive quarterly results, steel pipe manufacturer Hi-Tech Pipes announced a 34% rise in its consolidated profit after tax, reaching Rs 19.15 crore for the December quarter. The surge in profits was attributed to a significant increase in revenue.

The company's statement highlighted a year-on-year revenue improvement of 20.78%, totaling Rs 761.02 crore, compared to Rs 630.09 crore during the same period last year. This substantial growth evidences the company's strong market presence and operational efficiency.

The firm's earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a notable rise of 27.42%, amounting to Rs 40.23 crore. As part of its expansion strategy, Hi-Tech Pipes is enhancing its manufacturing capabilities and increasing its renewable energy capacity to 13.5 MW by year-end.