Hi-Tech Pipes, a number one pipe producer and provider, has reported a leap of round 40 % year-on-year in net profit at Rs 15.84 crore in the fourth quarter. The net profit in the corresponding interval in the earlier fiscal was Rs 11.21 crore.
The firm’s board has additionally declared a ultimate dividend for the monetary yr ending March 31, 2023. The dividend payout has been fastened at Rs 0.025 per share of Re 1 every.
“The Board of Directors of the company has proposed Final Dividend of F.Y-2022-23 Rs. 0.025Â per Equity share of Re 1Â each, subject to the approval of shareholders,” the submitting mentioned.
Its income from operations got here in at Rs 702 crore, up from Rs 594 crore in March 2022 quarter. Total firm clocked a complete expense of Rs 681 crore as in opposition to Rs 579 crore reported in the final quarter of FY22. For your complete monetary yr, Hi-Tech Pipes’ net profit stood at Rs 376 crore.
Hi-Tech Pipes in March sub-divided the fairness shares from Rs 10 to Re 1, that means every share was cut up into 10 shares. Its shares on Friday closed at Rs 76.50 on BSE.Â
“Company has split the share to increase its liquidity so that small shareholders/investors can also buy company shares,” an organization spokesperson had mentioned.
In the third quarter, the corporate recorded the best gross sales volumes of 91,232 thousand tonnes, displaying a 40 % rise on a Y-o-Y foundation.
The firm operates built-in manufacturing services at Sikandrabad in Uttar Pradesh, Sanand in Gujarat and Hindupur in Karnataka. Besides metal pipes, it additionally manufactures hole sections, tubes and street crash limitations amongst others.
It not too long ago signed an settlement with the Uttar Pradesh authorities to set up a metal manufacturing facility in the state at an funding of Rs 510 crore.
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