India’s leading seamless pipe maker Maharashtra Seamless has reported 49% YoY growth in total sales revenues for the July-September 2022 quarter on consolidated basis at INR 1,414 crore. For the September 2022 quarter, the steel pipes and tubes vertical of the company recorded sales growth of 15% YoY at INR 1,394 crore while the power segment saw marginally lower revenues at INR 169 crore. The Rigs business saw revenues more than double to INR 1,701 crore. Consolidated Profit after tax for September 2022 quarter was up 92%. The operating profits from the steel pipes and tubes segment increased by 72% at INR 147.45 crore. While operating profits from the power business was flat, the Rigs business dipped into operating losses in the quarter. Net margins came in at 12.5% YoY for Q2 of FY23 as compared to 9.7% in the year ago quarter
India’s leading seamless pipe maker Maharashtra Seamless has reported 49% YoY growth in total sales revenues for the July-September 2022 quarter on consolidated basis at INR 1,414 crore. For the September 2022 quarter, the steel pipes and tubes vertical of the company recorded sales growth of 15% YoY at INR 1,394 crore while the power segment saw marginally lower revenues at INR 169 crore. The Rigs business saw revenues more than double to INR 1,701 crore. Consolidated Profit after tax for September 2022 quarter was up 92%. The operating profits from the steel pipes and tubes segment increased by 72% at INR 147.45 crore. While operating profits from the power business was flat, the Rigs business dipped into operating losses in the quarter. Net margins came in at 12.5% YoY for Q2 of FY23 as compared to 9.7% in the year ago quarter
