Venus Pipes shares soar over 9% after firm clocks its best-ever quarterly revenue

Venus Pipes Share Price: Venus Pipes shares are skyrocketing in morning deals on BSE on Friday (October 27, 2023) after the the pipes and tubes manufacturer clocks its best-ever second-quarter revenue on Thursday.

Venus Pipes Share Performance

Venus Pipes shares were soaring higher by 9.01 per cent, or Rs 115.75, at Rs 1401.00 each on BSE at 10:59 am, on Friday, on the back of strong September-quarter results.

The stock's rise on Friday has covered its five-day losses, when it rose 6.08 per cent.

The stock's rise in the last month has now become 5.64 per cent after Friday's rally.

The stock this year has given some outstanding returns with soaring 58.79 per cent in the six-month period and skyrocketing 95.47 per cent year-to-date.  

Venus Pipes Q2 Results

Venus Pipes on Thursday reported strong results on most of the prominent parameters.

While its quarterly revenue swelled 51.3 per cent to Rs 191 crore, profit after tax soared 94.2 per cent to Rs 20.2 crore.

The company's margin was up 18.1 per cent up in the quarter under review.