Shares of Hi-Tech Pipes fell as much as 8% on Wednesday, hitting a day’s low of ₹77.58 after its June quarter net profit slipped 4.2%.

Hi-Tech Pipes makes welded steel pipes and tubes that are widely used in infrastructure, construction and engineering projects across India.

Net profit for Q1FY27 came in at ₹20.04 crore, down 4.2% from ₹20.92 crore in the same quarter last year. Revenue, on the other hand, jumped 78.5% to ₹1,412.8 crore from ₹791.4 crore.

EBITDA rose 20.3% to ₹49.38 crore, but the operating margin narrowed to 3.5% from 5.2% a year earlier. The squeeze came mainly from costs.

Total expenses climbed 81.5% to ₹1,386.9 crore, with purchases of raw materials and stock-in-trade jumping to ₹280.5 crore from just ₹35.2 crore.

Finance costs also doubled to ₹15.67 crore from ₹7.82 crore, adding further pressure on the bottom line even as the topline grew. The stock has had a rough patch even before Wednesday’s fall.

It is down close to 10.5% over the past month and around 16.6% so far this year. The share price remains well below its 52 week high of ₹127.50 touched in September last year, though it is still trading above its 52 week low of ₹70.14 hit in March.

The results follow an earlier update from the company on its June quarter volumes. Hi-Tech Pipes had said sales volumes rose 26% year on year to 1,56,136 tonnes in Q1FY27, up from 1,24,027 tonnes a year ago, and 6% higher than the March quarter.

The company credited this to its wider product range, added manufacturing capacity and steady demand from the infrastructure, construction and engineering sectors.

At 14:58 pm, the stock was trading at ₹77.81 on the NSE, down 7.57% for the day.

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