Venus Pipes & Tubes Sees Profitable Growth Amidst Export Boom

Venus Pipes & Tubes reports a 17% rise in profit after tax for the July-September quarter, driven by exports to Europe, the US, and the Middle East. Revenue grew by nearly 20%, with exports contributing 33% of the topline. The order book reflects strong demand across key sectors.

Venus Pipes & Tubes reported a 17% increase in profit after tax for the July-September quarter of this financial year, reaching Rs 23.7 crore. This boost comes as exports to major global markets surged, with a particularly high demand in Europe, the US, and the Middle East.

The company's revenue from operations rose nearly 20% to Rs 229 crore, up from Rs 191.35 crore during the same period last year. This growth has been attributed to exceptional export market demand, with revenue from exports more than doubling compared to the previous year.

According to Managing Director Arun Kothari, exports currently contribute 33% to the company's topline and are expected to maintain their momentum as global market conditions improve. Despite some domestic challenges due to heavy rainfall, the order book stands robust at Rs 340 crore, with strong demand in vital sectors such as oil & gas, engineering chemicals, and power.

(With inputs from agencies.)