Capital Market Last Updated at September 10, 2022 16:31 IST
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Venus Pipes & Tubes said that it has been recognised as ALL INDIA FIRST (AIF) manufacturer to receive Bureau of Indian Standards (BIS) approval for stainless steel seamless and welded pipes and tubes.
Arun Kothari, managing director of Venus Pipes & Tubes said, At Venus, we give utmost priority to quality & consistency with our in-house quality control team for our products and this approval is a testimony for our high-quality products and processes followed for manufacturing of pipes & tubes. These licenses will give us better opportunity to expand our client base and serve the existing clients better. We are proud of our teammates and their efforts towards serving the best quality yielded results.
Venus Pipes & Tubes is a pipes and tubes manufacturer with the sole focus on manufacturing of welded and seamless pipes in a single metal category, i.e., stainless steel (SS).
The company reported 33.8% rise in net profit to Rs 9.11 crore on a 40.1% increase in net sales to Rs 113.60 crore in Q1 FY23 over Q1 FY22.
Shares of Venus Pipes & Tubes closed 5.79% higher at Rs 439.10 on Friday on BSE.
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