Hi-Tech Pipes achieves record sales volume - Check details

Steel tubes and pipes manufacturing company Hi-Tech Pipes has announced its highest-ever sales volumes for the second quarter at 123,027 metric tonnes (MT), marking a 22.5 per cent year-on-year (YoY) growth.

For the first half of FY25, sales volumes reached 245,182 MT, reflecting an outstanding 32.55 per cent year-on-year (YoY) increase.

According to the company, the growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy.

"Despite the challenges posed by the monsoon season, Hi-Tech has successfully capitalized on opportunities arising from increased government spending
in critical Infrastructure projects and Private Investment in renewable energy projects," the company said.

Earlier, the company posted two-fold growth in consolidated net profit at Rs 18.05 crore in the quarter ended June 2024, on higer revenues.

The company had reported a net profit of Rs 8.03 crore in the April-June period of the preceding 2023-24 financial year.