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Prince Pipes soars 18%, hits new high on robust December quarter results

The firm's net profit rose 175 per cent year-on-year (YoY) to Rs 67 crore in the third quarter of FY21 on the back of higher revenues

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Higher government budgetary allocation for urban development is expected to drive the plastic pipe demand used for the Infrastructure sector, the firm said

SI Reporter Mumbai

2 min read Last Updated : Feb 04 2021 | 11:41 AM IST

Shares of Prince Pipes and Fittings soared 18 per cent to hit a new high of Rs 393 on the BSE in Thursday's intra-day trade after the company reported a robust set of numbers in the December quarter (Q3FY21).

The firm's net profit rose 175 per cent year-on-year (YoY) to Rs 67 crore in the third quarter of FY21 on the back of higher revenues. The company had posted a profit of Rs 24 crore in the year-ago quarter.

The company’s revenue from operations stood at Rs 549 crore in Q3FY21, up 39 per cent YoY, as compared to Rs 396 crore

Topics : Buzzing stocks Markets Q3 results

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