JTL Industries Q3 Results: Net Profit up 47%; Income Reaches Rs 568.33 Cr

On Friday, the shares of JTL Industries were flat at Rs 248.85 apiece. The stock opened on the BSE at Rs 265.35 apiece and rallied to Rs 267.45 logging a gain of 2.40% after the company declared results for quarter ended December 31.

The manufacturer of steel pipes, JTL Industries Ltd., said on Friday that its net profit for the third quarter, which ended on December 31, climbed by 47% to Rs 30.18 crore. It had earned a profit of Rs 20.49 crore in the October-December quarter of the prior 2022-23 fiscal, the company claimed in an exchange statement.

Its total income climbed to Rs 568.33 crore in Q3FY24 from Rs 344.42 crore in Q3FY23. Expenses were Rs 527.99 crore as opposed to Rs 316.70 crore in the year-ago quarter. The company's net profit for the April-December quarter rose to Rs 83.46 crore from Rs 53.47 crore during the same time last year, according to the filing.

"As a part of internal re-organization, the Board has accepted the resignation of Mr. Dhruv Singla as Chief Financial Officer (Key Managerial Personnel u/s 203 of the Companies Act, 2013) of the Company w.e.f. close of business hours on 12.01.2024, although Mr. Dhruv Singla shall continue to serve as a Whole Time Director of the Company.

Further, on the recommendations of the Nomination and Remuneration Committee and the Audit Committee, the Board of Directors has, in today's Meeting appointed Mr. Atul Garg as the Chief Financial Officer (Key Managerial Personnel u/s 203 of the Companies Act, 2013) of the Company w.e.f. close of business hours of 12.01.2024," said JTL Industries in a stock exchange filing.

JTL Industries Limited produces and sells high-quality Galvanised Steel Tubes and Pipes, as well as Heavy Structural Steel and Hollow Sections.