Venus Pipes & Tubes Q2 PAT grows 17% to Rs 23.7 cr in Q2

New Delhi: Venus Pipes & Tubes on Thursday reported a 17 per cent on-year increase in profit after tax to Rs 23.7 crore for the July-September quarter of this financial year.

The stainless steel pipes and tubes manufacturer and exporter had reported a profit after tax of Rs 20.25 crore in the year-ago period, the company said in a statement.

Revenue from operations rose by nearly 20 per cent to Rs 229 crore in the second quarter of 2024-25, as compared to Rs 191.35 crore in the year-ago period, the statement added.

"The robust performance has been primarily driven by exceptional export market demand, with export revenues increasing more than 2.5 times over the previous year, fueled by high demand for our products in Europe, the US and the Middle Eastern markets,” Arun Kothari, Managing Director, Venus Pipes & Tubes said.

Exports now contribute 33 per cent of the company's topline and this growth momentum is expected to continue as conditions in the Red Sea region improve, he added.

The company said its order book stood at Rs 340 crore and reflects strong demand across key sectors including, oil & gas, engineering chemicals and power.

In the domestic market, heavy rainfall in certain regions led to a spillover of orders, however, the demand outlook and order pipeline remain as robust, the company said.