Hi-Tech Pipes Q4 PAT up 64 pc to Rs 8.3 cr

Steel pipes maker Hi-Tech Pipes Ltd Tuesday reported 64 per cent rise in consolidated profit after tax (PAT) at Rs 8.3 crore during the quarter ended March 31, 2019.

The company had posted a PAT of Rs 5.1 crore in the year-ago-quarter, it said in a statement.

The company's net revenue rose 35 per cent to Rs 380.4 crore during January-March quarter as against Rs 282.3 crore in the year-ago period, it said.

"The EBITDA stood at Rs 20.6 crore in Q4 2018-19 as against Rs 15 crore in Q4 2017-18, registering a growth of 37 per cent, mainly on account of better operational efficiencies, expansion in higher profitable markets of west and south and increase in sale of value added products," the company added.

The New Delhi-headquartered company has a presence in over 17 states with more than 300 plus distributors across India.

Besides steel pipes, it also produces hollow sections, tubes, cold rolled coils and strips, road crash barriers, solar mounting structures and a variety of other galvanised products.

It has integrated manufacturing facilities at Sikandrabad in Uttar Pradesh, Sanand in Gujarat and Hindupur in Karnataka.