JTL Industries shares jump 6% after posting strong Q4 numbers
The company board of JTL Industries, in its meeting, also recommended a dividend of Rs 0.20 per equity share, which is 10 per cent for a face value of 2 each, for the year ended on March, 31, 2023.
- Apr 27, 2023,
- Updated Apr 27, 2023 11:18 AM IST
Shares of JTL Industries rose about 6 per cent during the early trade on Thursday after the company's net profit nearly doubled in the March 2023 quarter. The company reported a strong performance in the period ended March 2023, thanks to its lower expenses and increased operational revenue. JTL Industries reported a 93 per cent rise on a year-on-year (YoY) basis in the profit after tax (PAT) at Rs 36.65 crore in the March 2023 quarter, which was Rs 18.95 crore in the year-ago period. Its profit on a sequential (QoQ) basis increased 79 per cent from Rs 20.5 crore in December 2022 quarter. JTL Industries' revenue from operations increased more than 13 per cent to Rs 471.11 crore in Q4 FY23, which was Rs 416.39 crore in the same quarter previous year. However, the company secured a sequential growth of 37 per cent from Rs 343.33 crore in Q3 FY23. Following the announcement of results, shares of JTL Industries surged more than 6 per cent to Rs 348 on Thursday, before giving up its gains partially to trade around Rs 340 by 10.40 am and the company was commanding a market capitalization of more than Rs 2,850 crore. The scrip had settled at Rs 328.15 on Wednesday. JTL Industries (formerly known as JTL Infra) is the largest producer of Electric Resistance Welded (ERW) steel pipes including one of the largest section pipe and tube manufacturers in India, with a capacity to produce more than 5.85 Lakh metric tons per annum. JTL Industries reported a 48 per cent rise in the net profit at Rs 90.12 crore for the entire year ended on March 31, 2023. The company had reported a net profit of Rs 61.06 crore in the last previous fiscal. The revenue from operations increased over 14 per cent to Rs 1,548.4 crore during the period under review. The company board of JTL Industries, in its meeting, also recommended a dividend of Rs 0.20 per equity share, which is 10 per cent for a face value of 2 each, for the year ended on March 31, 2023. However, it is subject to the approval of shareholders of the company.
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Shares of JTL Industries rose about 6 per cent during the early trade on Thursday after the company's net profit nearly doubled in the March 2023 quarter. The company reported a strong performance in the period ended March 2023, thanks to its lower expenses and increased operational revenue. JTL Industries reported a 93 per cent rise on a year-on-year (YoY) basis in the profit after tax (PAT) at Rs 36.65 crore in the March 2023 quarter, which was Rs 18.95 crore in the year-ago period. Its profit on a sequential (QoQ) basis increased 79 per cent from Rs 20.5 crore in December 2022 quarter. JTL Industries' revenue from operations increased more than 13 per cent to Rs 471.11 crore in Q4 FY23, which was Rs 416.39 crore in the same quarter previous year. However, the company secured a sequential growth of 37 per cent from Rs 343.33 crore in Q3 FY23. Following the announcement of results, shares of JTL Industries surged more than 6 per cent to Rs 348 on Thursday, before giving up its gains partially to trade around Rs 340 by 10.40 am and the company was commanding a market capitalization of more than Rs 2,850 crore. The scrip had settled at Rs 328.15 on Wednesday. JTL Industries (formerly known as JTL Infra) is the largest producer of Electric Resistance Welded (ERW) steel pipes including one of the largest section pipe and tube manufacturers in India, with a capacity to produce more than 5.85 Lakh metric tons per annum. JTL Industries reported a 48 per cent rise in the net profit at Rs 90.12 crore for the entire year ended on March 31, 2023. The company had reported a net profit of Rs 61.06 crore in the last previous fiscal. The revenue from operations increased over 14 per cent to Rs 1,548.4 crore during the period under review. The company board of JTL Industries, in its meeting, also recommended a dividend of Rs 0.20 per equity share, which is 10 per cent for a face value of 2 each, for the year ended on March 31, 2023. However, it is subject to the approval of shareholders of the company.
Also read: Hot stocks on April 27, 2023: Brightcom Group, RVNL, Mirza International, Raymond and more