03
Aug
17:07
Welspun sees record profit despite drop in sales
Welspun Corp's net profit after tax rose 80% on-year to INR 97.28 crore ($13.09 million) in the first fiscal quarter through June (FQ1). However, sales plunged 21% to 175,000 tonnes, against 222,000t last year.
The firm’s global output and order books were recorded at 119,000t and 487,000t respectively. Reported Ebitda grew 2.9% to INR 203 crore but operating Ebitda dropped 7.4% to INR 170 crore, Kallanish notes.
"Our performance has been…
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