Hi-Tech Pipes Q1 net profit falls 4% despite revenue surge

Hi-Tech Pipes reported a 4.2% year-on-year decline in consolidated net profit for the first quarter of fiscal 2027, falling to Rs 20.04 crore from Rs 20.92 crore in the same period last year. Despite the dip in profit, revenue from operations saw a significant surge of 78.5%, reaching Rs 1,412.8 crore compared to Rs 791.4 crore in the previous year.

The decline in profitability was driven by rising expenses and finance costs. Total expenses increased by 81.5% to Rs 1,386.9 crore, while finance costs more than doubled to Rs 15.67 crore. Consequently, the EBITDA margin contracted to 3.5% from 5.2% in the year-ago quarter.

Following the announcement, shares of Hi-Tech Pipes fell by as much as 6.9% to Rs 78 on the NSE. The company noted that sales volumes grew 26% year-on-year to 156,136 metric tons, citing healthy demand in the infrastructure, construction, and engineering sectors.