Steel pipes manufacturer JTL Industries has posted 54.66 per cent growth in sales at 1.59 lakh tonne (LT) for April-September period of the ongoing fiscal year.
The company has also registered 56.78 per cent rise in sales volumes at 81,686 tonne in July-September, JTL Industries said in a regulatory filing.
The firm attributed the surge in sales numbers to robust demand for structural steel tubes and pipes in both domestic and international markets.
While sales in the first half of FY23 was 1.02 lakh tonne, sales in the second quarter of that fiscal was 52,101 tonne, the filing said.
Sales of value-added products rose to 60,708 tonne in H1 FY24 from 40,221 tonne in H1 FY23.
"This quarter we recorded our highest ever quarterly sale volume over Q2 FY23 period reflecting the continued patronage from our domestic and international clients. We also achieved a significant milestone by recording our highest-ever H1 sales volume demonstrating a robust growth rate. Our international sales grew significantly by 14.49 per cent to 4,393 tonne in Q2 FY24 compared to 3,837 tonne in Q2 FY23," a company spokesperson said.
On the outlook for the sector, the official said the company maintains an optimistic view for the industry as the demand for structural steel will continue to grow owing to hefty government spending towards infrastructure besides private and public capex.
Further, with the ending of monsoon, new projects are expected to begin.
JTL Industries (formerly JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in India, with a capacity to produce more than 6 lakh metric tonne per annum.