Hariom Pipes rises 3% on NSE after posting robust profit in June qtr

Hariom Pipes industries Ltd continued its rise, increasing more than 3 per cent on the NSE after posting robust profit.

At close, the shares of the company ended up 7.60 or 3.05 per cent at Rs 257.15 on the NSE.

On August 10, the company had reported 68 per cent year-on-year rise in its net profit to Rs 9.54 crore in Q1FY23. Net sales of the company rose 64 per cent year-on-year to Rs 142.31 crore.

Its EBITDA stood at Rs 16.34 crore in June, up 42.09 per cent from Rs 11.50 crore in June 2021.

On April 12, the company made debut on the stock exchanges at Rs 214 apiece on the BSE and Rs 220 on the NSE. The stock has given 44 per cent premium to the allottees.

--IANS

manish/arm