Indian Hume Pipe spurts after robust Q2 result

Indian Hume Pipe Company spurted 11.59% to Rs 215.75 after the company's net profit surged 289.89% to Rs 18.13 crore on 45.91% rise in net sales to Rs 416.01 crore in Q2 September 2021 over Q2 September 2020.

The company has reported an EBIDTA of Rs 43.13 crore as against Rs 29.06 crore in the corresponding quarter of the previous year, an increase of 48.42%.

The company's profit before tax rose 292.12% year-on-year to Rs 24.39 crore in Q2 September 2021.

During the quarter, the total expense rose 40.23% to Rs 392.62 crore. Raw material cost jumped 17.70% to Rs 21.94 crore and employee cost climbed 24.55% to Rs 20.65 crore.

The estimated balance value of the work as at 31 October 2021 is Rs 4426.01 crore as against Rs 4234.41 crore as at 31 October 2020.

Indian Hume Pipe Company is engaged in the construction and maintenance of projects relating to water supply, irrigation, sanitation and sewerage systems, and pipe manufacturing. It has also executed projects in neighboring countries like Nepal, Srilanka, Burma, Malaysia and Republic of Iraq.

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