look news india
Corporate Results: Venus Pipes & Tubes Ltd., one of the leading stainless steel pipes and tubes manufacturers and exporters in India, today announced its unaudited financial results for the first quarter of the financial year 2024-25 ended June 30, 2024. The company's revenue grew by 34 per cent to Rs 240.1 crore during the period under review.
During the quarter, the Company recorded its highest ever quarterly revenue at Rs. 240.1 crore with a high growth of 34 per cent, EBITDA of Rs. 47.9 crore and EBITDA margin of 20 per cent, a year-on-year growth of 74 per cent. EBITDA of Rs. 240.1 crore with a high growth of 34 per cent.
Commenting on the financial performance, Arun Kothari, Managing Director, Venus Pipes & Tubes Ltd. said, “We are proud to have started the financial year 2024-25 with a strong quarterly performance that witnessed exceptional performance. Our revenue stood at Rs 240.1 crore, registering a high growth of 33.7 per cent. Our EBITDA is Rs 48 crore, growing by 73.6 per cent with a margin of 20 per cent. Our PAT i.e. Net Profit grew by 58 per cent to Rs 27.5 crore.
Our export performance during the quarter has been exceptionally good, with revenue growing 691 per cent year-on-year to Rs 60.9 crore and contributing 25 per cent to our total revenue, up from 4 per cent in Q1 FY2023-24. We have achieved a high growth of 123 per cent quarter-on-quarter. We have achieved significant growth in our core market of Europe as well as the US and Middle East markets. Going forward, we have good orders in these regions and these exports are expected to sustain.
Our order book is strong, with orders coming from a wide range of industries, mainly oil and gas, pharma, engineering, power and other sectors.