Hi-Tech Pipes Q3 net profit up 28 percent
[ad_1]
copy photo
google creative commons
Giving this information to the market regulator, the company said that in the same period of the previous financial year, it had earned a net profit of Rs 10.16 crore. The company’s total income during the period under review increased to Rs 569.80 crore from Rs 440.03 crore in the year-ago quarter.
Steel pipe maker Hi-Tech Pipes on Saturday said its consolidated net profit for the quarter ended December 2022 grew by over 28 per cent to Rs 13.02 crore. Giving this information to the market regulator, the company said that in the same period of the previous financial year, it had earned a net profit of Rs 10.16 crore. The company’s total income during the period under review increased to Rs 569.80 crore from Rs 440.03 crore in the year-ago quarter.
The company’s expenses increased to Rs 552.40 crore in the October-December 2022 quarter from Rs 426.18 crore a year ago. The consolidated results also include the results of subsidiaries HTL Ispat Pvt Ltd, HTL Metals Pvt Ltd and Hitech Metalex Pvt Ltd. Along with this, the Board of Directors of the company has approved the proposal to split the shares of face value of Rs 10 each into 10 shares of face value of Re 1 each.
However, this proposal is yet to be approved by the shareholders and authorities. The company has also declared a final dividend of Rs 0.50 per equity share of Rs 10 each for the financial year 2021-22. Hi-Tech Pipes operates integrated manufacturing plants at Secunderabad in Uttar Pradesh, Sanand in Gujarat and Hindupur in Karnataka. The company has recently signed an agreement with the Uttar Pradesh government to set up a steel manufacturing plant with an investment of Rs 510 crore.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
other news
[ad_2]
Source link
