Welspun Corp Ltd (WCL) reported a 47% rise in net profit to Rs 247.94 crore for the June quarter, thanks to lower expenses. Net income fell to Rs 3,179.67 crore from Rs 4,118.78 crore a year ago. WCL reduced expenses to Rs 2,914.50 crore from Rs 3,878.67 crore. The company is acquiring Weetek Plastics Pvt Ltd for Rs 85 crore and has a strong order book worth Rs 8,508 crore. WCL is also the first Indian pipe mill to produce API X65 grade pipes for hydrogen. Investors may view WCL’s profit growth and strategic acquisitions positively, boosting confidence in its future performance.
Welspun Corp Q1 Profit Up 47% to Rs 247 Cr Despite Drop in Income
