JTL Infra recorded sales volume of 33,302 metric tonnes (MT) in Q1 FY23 compared from 29,235 MT in Q1 FY22, a growth of 13.9% YoY.
The company stated that to improve and enhance the share of value-added products in the product mix, the value-added products contribute 33.5% of volume and witnessed a growth of 8.2% in comparison to the sales volume of Q1FY22.Sales volume of Q1FY23 however, declined by 24.5% in comparison to sale volume of the company achieved in Q4FY22. The decline was account of the consumer sentiment being sluggish during the quarter with volatility in input costs leading to the postponement of purchases and construction decisions.
The demand has also been impacted due to the onset of monsoon next month which will pull down demand as constructions will be on hold. Due to volatility in steel prices, the industry witnessed de-stocking in the domestic market.
Under Jal Jeevan Mission (JJM), the company has been supplying galvanised pipes to State Government agencies. JJM is envisioned to provide safe and adequate drinking water through individual household tap connections by 2024.
During the quarter, the company received a sales order of 20000 metric tonnes for the supply of galvanised pipes to Jammu & Kashmir.
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JTL Infra is amongst the fastest growing steel tube manufacturers. The company has has three manufacturing facilities with a cumulative capacity of 4 lakh MTPA.
The company's net profit rose 46.5% to Rs 16 crore in Q4 FY22 on a 47.5% increase in net sales to Rs 301.15 crore in Q4 FY22 over Q4 FY21.
Shares of JTL Infra fell 1.34% to Rs 199 on the BSE.
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