{"id":107063,"date":"2023-08-14T16:32:19","date_gmt":"2023-08-14T11:02:19","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107063"},"modified":"2023-08-14T16:32:21","modified_gmt":"2023-08-14T11:02:21","slug":"hi-tech-pipes-q1-24-result-company-reports-80-increase-in-net-profits","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/hi-tech-pipes-q1-24-result-company-reports-80-increase-in-net-profits\/","title":{"rendered":"Hi-Tech Pipes Q1 \u201824 Result: Company Reports 80% Increase in Net Profits"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2963065758\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/HITECH\/consolidated\">Hi-Tech Pipes<\/a><\/strong> has reported around an 80% rise in its net profit to Rs 8.02 crore during the quarter ended June 30, mainly due to higher revenues. It had clocked Rs 4.48 crore net profit during the April-June period of the preceding 2022-23 fiscal, the company said in a statement on Monday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3375563896\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company&#8217;s revenue from operations also rose 24% to Rs 642.17 crore in Q1 FY24 from Rs 516.17 crore in the year-ago quarter. Its total sales volumes increased to 84.5 thousand tonnes over 70 thousand tonnes in Q1FY23.<\/p><p>&#8220;The company has registered sales volume growth of 21%. This volume growth has been majorly contributed by increased sales of value-added products like GP coils, colour-coated coils and sheets. The company is well positioned in this market segment,&#8221; Ajay Kumar Bansal, Chairman and Managing Director, Hi-Tech Pipes, said.<\/p><p>On business updates, he said the greenfield facility of large diameter pipes at Makhiyav, Sanand in Gujarat, is expected to start commercial production from Q3FY24 onwards. Hi-Tech Pipes owns and operates integrated manufacturing facilities at Sikandrabad in Uttar Pradesh, Sanand in Gujarat and Hindupur in Karnataka. The company recently signed an agreement with the Uttar Pradesh government to set up a steel manufacturing facility at an investment of Rs 510 crore.<\/p><div class=\"trade-content_5\" id=\"trade-2224849366\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-75224675\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Hi-Tech Pipes has reported around an 80% rise in its net profit to Rs 8.02 crore during the quarter ended June 30, mainly due to higher revenues. It had clocked Rs 4.48 crore net profit during the April-June period of the preceding 2022-23 fiscal, the company said in a statement on Monday. The company&#8217;s revenue [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":40460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1515,31],"tags":[],"class_list":["post-107063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-results","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hi-Tech Pipes Q1 \u201824 Result: Company Reports 80% Increase in Net Profits - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Hi-Tech Pipes has reported around an 80% rise in its net profit to Rs 8.02 crore during the quarter ended June 30, mainly due to higher revenues. It had clocked Rs 4.48 crore net profit during the April-June period of the preceding 2022-23 fiscal, the company said in a statement on Monday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/hi-tech-pipes-q1-24-result-company-reports-80-increase-in-net-profits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hi-Tech Pipes Q1 \u201824 Result: Company Reports 80% Increase in Net Profits\" \/>\n<meta property=\"og:description\" content=\"Hi-Tech Pipes has reported around an 80% rise in its net profit to Rs 8.02 crore during the quarter ended June 30, mainly due to higher revenues. 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