Hariom Pipe Industries Ltd announces Q3 FY24 financial results

Hariom Pipe Industries Ltd. (HPIL), at its board meeting held on February 09, 2024 declared its financial performance for the third quarter and nine months ending December 31, 2023, of the financial year 2023 - 24. The following is the key financial performance:

Our Revenue from Operations surged by 147%, rising from Rs. 12,285.29 Lakhs in Q3 FY23 to Rs. 27,999.72 Lakhs in Q3 FY24. Additionally, it experienced a notable growth of 110%, climbing from Rs. 39,221.52 Lakhs in 9M FY23 to Rs. 82,226.73 Lakhs in 9M FY24. This remarkable growth was primarily driven by robust sales volume, surpassing both previous records and the sales figure achieved in FY23.

Our EBITDA saw a significant increase of 86%, advancing from Rs. 1,857.59 Lakhs in Q3 FY23 to Rs. 3,459.43 Lakhs in Q3 FY24. Similarly, it rose by 97% from Rs. 5,114.85 Lakhs in 9M FY23 to Rs. 10,060.43 Lakhs in 9M FY24.

PAT experienced a slight decline of 3.32% to Rs. 981.28 Lakhs in Q3 FY24 and increase of 38.24% to Rs. 4,003.02 Lakhs in 9M FY24 on a year-on-year basis.

Revenue is projected to increase by 80-85% from FY23 to FY24. This milestone not only reflects the company's robust growth trajectory but also underscores its strong market presence and ability to capitalize on opportunities within its industry. Such a milestone is indicative of the company's sustained performance and its capacity to meet market demand while maintaining a competitive edge.

Shares of Hariom Pipe Industries Limited was last trading in BSE at Rs. 582.40 as compared to the previous close of Rs. 589.45. The total number of shares traded during the day was 3011 in over 279 trades.

The stock hit an intraday high of Rs. 604.85 and intraday low of 575.00. The net turnover during the day was Rs. 1758525.00.

Source : Equity Bulls

Keywords

HariomPipeIndustries INE00EV01017 IronandSteelProducts Q3FY24 ResultUpdate