Venus Pipes & Tubes Faces Profit Decline but Sees Strong Export Growth

Venus Pipes & Tubes reported a significant fall in net profit by 22% for the December quarter of 2024-25, reaching Rs 18 crore. Despite this, the company achieved an 11.7% increase in total income. Exports saw a substantial rise due to high demand from the US, Middle East, and Africa.

Venus Pipes & Tubes, a leading stainless steel pipes and tubes manufacturer, has reported a notable 22% decline in its net profit for the December quarter of 2024-25, registering Rs 18 crore compared to Rs 23.27 crore in the corresponding period of the previous year.

Nonetheless, the company experienced an 11.7% increase in its total income, which rose to Rs 231.3 crore in the third quarter from Rs 207.1 crore in the same time frame last year, fueled by heightened export demand.

Despite domestic challenges, the firm's exports surged by 153%, driven by robust demand in the US, Middle East, and Africa markets. Expansion plans for high-grade stainless and titanium welded tubes are progressing, with completion expected by March 2025, and seamless pipes set to begin production in December 2025.