Hi-Tech Pipes Limited a leading Steel Tubes and Pipes manufacturing company in India, is pleased to announce impressive sales volume results for the second quarter and first half of the fiscal year 2025, ending September 30, 2024. The company reported sales volumes of 123,027 MT for Q2 FY25, representing a remarkable 22.50% year-on-year (YoY) growth. For the first half of FY25, sales volumes reached to 245,182 MT, reflecting an outstanding 32.55% YoY increase.
This growth is primarily driven by a surge in demand across key sectors, including infrastructure, water transportation, and solar energy. Despite the challenges posed by the monsoon season, Hi-Tech has successfully capitalized on opportunities arising from increased government spending in critical Infrastructure projects and Private Investment in renewable energy projects.
Commenting on the occasion, Mr. Ajay Kumar Bansal, Chairman, Hi-Tech Pipes Ltd, said: "We are proud to report these significant growth figures, which highlight our strong market position and our ability to meet the needs of our customers in vital sectors. The robust demand for steel pipes in infrastructure, water transportation and renewable energy, coupled with our strategic initiatives, has enabled us to achieve these figures.
Looking ahead, we are optimistic about continued growth, especially with the festive season on the horizon. We anticipate an uptick in demand during this time, alongside ongoing renewable energy and infrastructure projects, positioning us for sustained success.
Our commitment to quality, sustainability, and operational efficiency remains unwavering. We will continue to focus on innovation and customer satisfaction to maintain our competitive edge in the market."
Shares of Hi-Tech Pipes Limited was last trading in BSE at Rs. 200.90 as compared to the previous close of Rs. 201.55. The total number of shares traded during the day was 347987 in over 3489 trades.
The stock hit an intraday high of Rs. 204.05 and intraday low of 200.25. The net turnover during the day was Rs. 70071274.00. |
