Q4 Results: JTL Industries reports revenue of Rs 20,402.3 million
The company recently acquired a 67 per cent controlling interest in Nabha Steels and Metals, in Mandi Gobindgarh, Punjab.
JTL Industries, a steel tube manufacturing company that specializes in producing black steel pipes, pre-galvanized and galvanized steel pipes, has informed exchanges that it has reported Rs 20,402.3 million in the financial year ending March 31, 20424. According to an exchange filing, the company also achieved its highest-ever sales volume of 3,41,846 MTPA for FY24.
"This exceeds the sales volume of the previous fiscal year, FY23, which stood at 2,40,316 MTPA, demonstrating a robust growth rate of 42.3%. Moreover, JTL experienced a significant uptick in sales of Value-Added Product (VAP), witnessing a notable increase of 34.5%, rising from 74,243 MTPA in FY23 to 99,818 MTPA in FY24," the company said.
JTL has also reported a growth in net profit, which surged by 25.39 per cent to Rs 113.01 crore for the year ended March 2024, up from Rs 90.13 crore in the previous fiscal year. Sales also increased by 31.63 per cent to Rs 2040.23 crore from Rs 1549.92 crore in the year ended March 2023.
However, the company's net profit declined for the quarter ended March 2024 compared to the same period last year.
The net profit for the quarter plummeted by 19.37 per cent, amounting to Rs 29.55 crore, down from Rs 36.65 crore in the corresponding period of the previous year.
Meanwhile, the company recently acquired a 67 per cent controlling interest in Nabha Steels and Metals, in Mandi Gobindgarh, Punjab. With a capacity of 200,000 MTPA, this acquisition will bolster JTL's backward integration capabilities.
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