Mumbai, Aug. 14 -- Net profit came in at Rs 34 crore, down 64% from Rs 92 crore in Q1 FY25. Revenue fell 15% year-on-year to Rs 1,605 crore from Rs 1,893 crore.

EBITDA stood at Rs 83 crore in Q1 FY26, down 48% from Rs 159 crore a year earlier, with margins contracting to 5.14% from 8.37% in Q1 FY25.

Profit before tax (PBT) stood at Rs 46 crore in Q1 FY26, down 63% from Rs 123 crore in Q1 FY25.

In the Steel Pipes and Strips segment, revenue was Rs 1,207 crore versus Rs 1,509 crore in Q1 FY25, registering a 20% YoY decline. EBITDA per metric tonne fell 52% YoY to Rs 2,922 in Q1 FY26. The Steel Pipes segment saw slower execution in government projects, early monsoon, and lower steel prices, though exports managed to deliver strong double-...