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

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.

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