JTL Industries Hit Lifetime High As Q2 PAT Jumps 34% To Rs 27 Cr

On Thursday, the shares of JTL Industries opened on the BSE at Rs 237.30 apiece and rallied to hit a lifetime high of Rs 242.15 during the morning deals. The surge in the stock price was witnessed after the company reported healthy quarterly earnings.

JTL Industries Ltd. said on Thursday that its standalone profit for the quarter of July to September 2023 jumped by 34.1% to Rs. 27.91 crore. JTL Industries reported today in a BSE filing that the company recorded a standalone profit of Rs 20.80 crore in the corresponding quarter of the previous fiscal. Its total income during Q2FY24 stood at Rs 505.12 Cr up by 37.63% YoY from Rs 366.99 Cr recorded in Q2FY23. Its revenue from operations stood at Rs 502.10 Cr in the quarter ended September 2023 compared to Rs 365.92 Cr in the year-ago quarter up by 37.21% YoY.

"During the quarter, the company has allotted 6,35,000 nos of fully paid equity shares on conversion of share warrants to the non-promoter, public group," said JTL Industries in its earning report.

As of September 30, 2023, JTL Tubes Limited, a wholly-owned subsidiary of the corporation, had total assets of Rs 184.24 lakhs, total revenue of NIL, and total net profit after loss of Rs 0.05 lakhs.

"The Company has issued equity shares of Rs 2/- each as fully paid bonus shares during the period ended 30 September 2023 in the ratio of one equity share of Rs 2/- each for every equity share held," said JTL Industries in a regulatory filing.

While writing the copy, the shares of JTL Industries were trading at Rs 235.80 on the BSE. The scrip made a 52-week-high of Rs 242.15 (12/10/2023) and a 52-week-low of Rs 118.33 on (17/10/2022). During Q2FY24, the company recorded promoters' shareholding of 55.92% and public stake of 44.08%.