Q1 results 2024: JTL Industries reports 21% YoY rise in net profit, FPIs raise stake

  • FPIs have raised stake in JTL Industries from 4.48% to 5.81% during Q1FY25

Asit Manohar
Updated11 Jul 2024, 01:30 PM IST
In Q1 results 2024, JTL Industries reported a net profit of  <span class='webrupee'>₹</span>30.70 crore, which is 21 percent higher than its net profit of  <span class='webrupee'>₹</span>25.37 crore in the corresponding period in
In Q1 results 2024, JTL Industries reported a net profit of ₹30.70 crore, which is 21 percent higher than its net profit of ₹25.37 crore in the corresponding period in(Photo: iStock)

Q1 results 2024: JTL Industries Ltd declared its first quarter results for the financial year 2024-25. In the quarter that ended June 2024, the steel pipes maker reported a 21 percent YoY rise in net profit. Foreign Portfolio Investors (FPIs) probably had an idea about the company's strong fundamentals as they raised their shareholding in the company from 4.48 percent to 5.81 percent during the April to June 2024 quarter.

JTL Industries Q1 results 2024

In Q1 results 2024, JTL Industries reported a net profit of 30.70 crore, which is 21 percent higher than its net profit of 25.37 crore in the corresponding period in the previous financial year. The company also reported a rise in net profit on a quarter-on-quarter (QoQ) basis. In the January to March 2024 quarter, JTL Industries Ltd reported a net profit of 29.10 crore, which means the company recorded a QoQ rise of 5.50 percent in net profit.

JTL Industries Ltd reported a total income of 519.56 crore in the April to June 2024 quarter, compared to 505.57 crore in the corresponding period of the previous fiscal year. Thus, the company has logged a YoY rise of 2.76 percent. The company's total income in the January to March 2024 quarter stood at 469.27 crore. So, on a QoQ basis, the company reported an over 10.70 percent rise in total income.

FPIs raise shareholding during Q1FY25

Foreign portfolio investors (FPIs) had ideas about the company's strong fundamentals. During the April to June 2024 quarter, FPI net shareholding was at 5.81 percent, which stood at 4.48 percent after the end of the January-March 2024 quarter. This means FPIs bought fresh shares in the company during the first quarter of the current fiscal. According to the shareholding pattern of JTL Industries Ltd for Q1FY25, FPIs in category I hold 47,78,385 JTL Industries shares or a 2.70 per cent stake in the company. In the FPI category II, FPIs own 55,20,000 JTL Industries shares or a 3.11 percent stake. So, the net shareholding by FPIs in JTL Industries after the end of the June 2024 quarter is 5.81 percent.

In the company's shareholding pattern in the March 2024 quarter, FPIs in category I owned 23,58,889 JTL Industries shares or 1.33 percent stake in the company. In category II, FPIs owned 55,67,711 company shares of 3.15 percent stake in the company. This means FPIs held a 4.48 percent stake in JTL Industries after the end of the March 2024 quarter.

Hence, FPIs raised their stake in JTL Industries from 4.48 percent to 5.81 percent in the recently ended April to June 2024 quarter.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

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News in Numbers

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₹588.25 Cr

₹20,000 Cr

7.93 Cr

₹8,943 Cr

20 Yrs

First Published:11 Jul 2024, 01:30 PM IST
HomeMarketsStock MarketsQ1 results 2024: JTL Industries reports 21% YoY rise in net profit, FPIs raise stake

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