Manufacturing major JTL Industries shares hit 52-week high on strong Q2 earnings

Shares of JTL Industries Ltd hit a 52-week high today i.e. on October 12, after the company reported a 34.1 per cent rise in consolidated profit at Rs 27.91 crore in the July-September quarter of the current fiscal.

The stock has yielded a positive return of 50 per cent on a YTD basis. It has turned multibagger in the past two years and made investors richer by 154 per cent as against an 86 per cent jump in S&P BSE Industrials.

In the past three years, the stock having a market cap of Rs 4,014 crore, has delivered a return of more than 1500 per cent.

The company had posted a consolidated profit of Rs 20.80 crore in the corresponding quarter of the previous fiscal, JTL Industries Ltd said in a filing with the BSE.

Its total income during the July-September period increased to Rs 505.12 crore from Rs 366.99 crore in the year-ago period, the filing said.

JTL Industries is a leading producer of electric resistance welded steel pipes with a production capacity of more than 6 lakh metric tonnes per year.

The company's distribution network is spread across the country and it has branch offices in Delhi, Mumbai and Chandigarh. It also exports products to various countries.