Prakash Pipes Ltd’s shares were up by 2 per cent after it reported higher net sales of Rs 158 crore in the quarter ended December 31, 2023, as compared to the corresponding period of the previous fiscal year. 

Operating profit surged to Rs 30 crore, up 43 per cent, while profit after tax was at Rs 23 crore, up 72 per cent compared to the previous year.

In the nine-month period ended December 31, 2023, the company reported net sales of Rs 505 crore, with operating profit of Rs 77 crore, and profit after tax of Rs 64 crore, registering growth rates of 20 per cent and 25 per cent, respectively. 

The PVC Pipes & Fittings division registered sales volume of 31,861 MT, up 10 per cent compared to the previous year, driven by demand in the infrastructure, housing, and irrigation sectors. 

The shares were up by 2 per cent at Rs 426.20 at 2.50 pm on the BSE.