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Venus Pipes & Tubes reported a 22.81% drop in net profit to Rs 17.97 crore in Q3 FY25, compared to Rs 23.28 crore recorded in Q3 FY24.

Venus Pipes Q3 PAT slips 23% YoY to Rs 18 cr in FY25

13-Feb-2025, 02:50
However, revenue from operations advanced 11.67% to Rs 231.30 crore in the December quarter, compared with Rs 207.13 crore posted in Q3 FY24.

Profit before tax in Q3 FY25 stood at Rs 24.20 crore, down 22.34% from Rs 31.16 crore posted in Q3 FY24.

EBITDA declined 4.86% YoY to Rs 37.2 crore in the third quarter of FY25. EBITDA margin was 16.1% in Q3 FY25 as against 18.9% in Q3 FY24.

On a 9-month basis, the company's net profit jumped 13.52% to Rs 69.18 crore on a 21.16% rise in revenue from operations to Rs 700.39 crore in 9M FY25 over 9M FY24.

Arun Kothari, managing director for Venus Pipes & Tubes, said, We are pleased to report steady performance for the quarter, with revenues growing by 11.7% to Rs. 231.3 crore, compared to Rs 207.1 crore in the same period last year.

On the geographical front, we continued our strong export momentum, achieving 153% year-on-year growth for the quarter'our highest-ever quarterly export revenue. Our share of export revenue stood at 38.5% for the quarter. Additionally, our focus on expanding in the U.S. market is yielding results, with strong sales driven by a well-established team and a growing network of dealers. We are seeing strong demand for welded pipes in US, Middle East, and African markets. European markets continue to remain strong for us with increasing penetration owing to competitive pricing and superior quality of our products.

Domestically, sales remain impacted by sluggish private and government sector capex. While we anticipate this trend to persist in the near term, we remain optimistic about growth on the back of market share gains from unorganized players, and with the introduction of fittings and other value-added products, we are positioned as a one-stop piping solutions provider for our customers

We continue to secure approvals from leading industry players, reinforcing trust in our product quality. Our focus remains on expanding our SKU offerings, enhancing our manufacturing capabilities with higher-grade pipes and tubes, and penetrating new geographies.

Looking ahead, we remain committed to driving growth through market expansion, innovation, and operational excellence. With a strong export trajectory, increasing acceptance of our value-added products, and strategic investments in capacity expansion, we are wellpositioned to capitalize on future opportunities.

Venus Pipes & Tubes manufactures and exports stainless-steel pipes and tubes, offering seamless and welded products in five categories. Their market extends to over 20 countries, including Brazil, the UK, Israel, and various European Union nations.

Shares of Venus Pipes & Tubes added 1.08% to currently trade at Rs 1,351.05 on the BSE.