Hariom Pipes gained 3% on NSE yesterday after strong June quarter numbers

17 Aug 2022 , 09:32 AM

Following the announcement of a healthy profit, Hariom Pipes Industries Ltd’s stocks has gained more than 3% on NSSE yesterday. On the NSE, the company’s shares closed at Rs.257.15 on August 16th after rising 7.60 or 3.05 % . On August 10, the business announced that its net profit for the first quarter of FY23 increased by 68% over the same period last year, reaching Rs9.54 crore.

The business’s net sales increased by 64% from the previous year to Rs142.31 crore. From Rs11.50 crore in June 2021 to Rs16.34 crore in June 2018, the company’s EBITDA increased by 42.09 %. The business made its debut on the stock markets on April 12 at a price of Rs214 per share on the BSE and Rs220 on the NSE. The company had then received a 44% premium on the shares.