Welspun Corporation’s Q4 net profit decreases by 8.90% to Rs 240 crore
Welspun Corp Ltd (WCL), hampered by increasing costs, reported an 8.90% fall in its combined net profit to Rs 240.08 crore for the January-March quarter.
According to a regulatory filing, the firm reported a net profit of Rs 263.56 crore for the January-March quarter of the last fiscal year (FY) 2021-22.
From Rs 2,413.48 crore in the same period last year, the company’s overall revenue increased to Rs 4,132.38 crore this quarter. From January to March of FY22, its costs increased to Rs 3,835.55 crore from Rs 2,033.16 crore.
B. K. Goenka, Chairman of the Welspun Group, said in a separate statement, “We have witnessed perfect execution and delivery for our clients, resulting in robust cash flows and a significant decrease in net debt. We have a head start in the B2C market because to the purchase of Sintex’s plastic products division.
This will expand the current company portfolio while also creating tremendous value for all of our stakeholders.
The firm has also achieved noteworthy operational advancements in its new businesses of producing TMT rebars and DI pipes. The stainless steel industry has finished its comeback, and things are expected to keep going well. He predicted that WCL would soar to higher heights in the next fiscal year.
With operations in 50 nations, Welspun Corp. is one of the biggest producers of large diameter pipes worldwide.
