JTL Industries net profit doubles to Rs 36.65 crore in quarter ending March 31

JTL Industries, the maker of steel pipes, has posted a consolidated net profit at Rs 36.65 crore during the march quarter of financial year 2022-23. The company said that the net profit jumped mainly on account of higher income, , JTL Industries said in a regulatory filing on Wednesday.

This translates into an increase of almost 100 per cent from Rs 18.94 crore during the January-March period of fiscal year 2021-22.

During the quarter under review, the company's total income also rose to Rs 473.09 crore, from Rs 417.64 crore in the year-ago quarter.

The company's total expenses rose to Rs 422.73 crore in the last three months period of FY23, from Rs 392.94 crore a year ago.

The company has also declared a dividend of Rs 0.20 per equity share of face value of Rs 2 for the financial year ended March 31, 2023. The record date will be announced later.

JTL Industries Ltd (formerly known as JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in the country. It has a capacity to produce more than 5.85 lakh metric tons per annum.

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