Hi-Tech Pipes Q2 net profit grows two-fold to Rs 10.53 crore

Hi-Tech Pipes reported a consolidated net profit of Rs 10.53 crore in the September quarter, a more than two-fold increase from the same period last year. The company's total income also rose, reaching Rs 746.73 crore. The increase in profit and income can be attributed to higher sales volumes and demand for steel tubes and value-added products. Hi-Tech Pipes' Managing Director, Ajay Kumar Bansal, stated that the company's greenfield facility in Gujarat is expected to begin commercial production in the third quarter of FY24.

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