JTL Industries shares touch record high after declaration of Q3FY24 business update
Stock market today: After announcement of business update for September to December 2023 quarter, JTL Industries shares witnessed buying interest despite weak stock market sentiments. JTL Industries share price today opened upside at ₹245.10 apiece on NSE and went on to touch intraday high of ₹253 per share levels, which turned out its new life-time high on NSE. While climbing to its new high, JTL Industries share price recorded intraday gain of around 6.50 per cent during Tuesday dealings.
In its stock market exchange filing, JTL Industries Ltd reported its highest ever quarterly sales volume of 1,00,905 MT, exhibiting a rigorous and robust growth of around 76% over Q3 FY23, driven by healthy demand for its structural steel tubes and pipes finding application in infrastructure and industrial sectors in both domestic and international markets. Also Read: DCB Bank share price touches 52-week high on third day in a row. Buy or sell? JTL Industries recorded decent growth in volumes of value-added products which stood at 19,789 MT for Q3FY24.
This underscores a remarkable YoY growth rate of 35.39%, surpassing the sales volume of 14,616 MT recorded during Q3 FY23. During the current quarter, the Galvanization facility was slightly impacted due to scheduled maintenance of Galvanization pot, a necessary measure taken periodically by The Company to uphold product quality and standards. This reduced overall operating capacity and in turn impacted the overall volumes for said segment.
The Company, however, has swiftly addressed the maintenance requirements, and JTL aims to recover the lost volumes in upcoming quarters. Also Read: Vodafone Idea denies tie-up with Elon Musk's Starlink. Share dips In terms of 9MFY24 performance, The
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