Hi-Tech Pipes Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 28, 2023 at 03:31 am EST
Share
Hi-Tech Pipes Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 5,692.87 million compared to INR 4,400.15 million a year ago. Revenue was INR 5,698.05 million compared to INR 4,400.36 million a year ago. Net income was INR 130.18 million compared to INR 101.68 million a year ago. Basic earnings per share from continuing operations was INR 1.061 compared to INR 0.833 a year ago. Diluted earnings per share from continuing operations was INR 0.731 compared to INR 0.828 a year ago.
For the nine months, sales was INR 16,839.9 million compared to INR 12,840.7 million a year ago. Revenue was INR 16,859.54 million compared to INR 12,843.15 million a year ago. Net income was INR 218.41 million compared to INR 291.23 million a year ago. Basic earnings per share from continuing operations was INR 1.783 compared to INR 2.46 a year ago. Diluted earnings per share from continuing operations was INR 1.228 compared to INR 2.442 a year ago.
Hi-Tech Pipes Limited is an India-based company that is engaged in manufacturing and supplying electric resistance welding (ERW) steel round and section pipes, cold rolled strips and engineering products and distribution of the same across India. Its key products include black hollow section and round pipe, galvanized and pre-galvanized pipes and cold rolled coils (CR). Its products are used in multiple sectors, including infrastructure, construction, automobiles, energy, agriculture, defense, engineering and telecom. It operates under the manufacturing of Steel Tubes & Pipes. Its product brands include JalShakti, Organic Pipes, FireFighter, Bahubali, Pre-Gal, Casewell, Shakti, Flatmax, Crashguard, Pillar, ColorStar and Metal GC Sheet. The Company has its five manufacturing facilities spread across four states, namely Uttar Pradesh, Gujarat, Andhra Pradesh and Maharashtra. It has an installed capacity of approximately one million metric tons (MT) per annum.
HI-TECH PIPES LIMITED 
