New Delhi: Welspun Corp Ltd, flagship company of the Welspun Group, on Monday posted five-fold increase in consolidated net profit at Rs68.59 crore for the quarter ended 31 March 2017.
The company had posted consolidated net profit of Rs13.06 crore in the year-ago period, WCL said in a filing to BSE.
The consolidated income increased to Rs2,172.49 crore, from Rs1 ,976.05 crore in the corresponding quarter of FY’16 “Q4 was driven by strong volumes leading to improvement in profitability. Though we are starting the new fiscal with a moderate order book position, strong demand in domestic market coupled with favourable policy measures taken by the Government of India presents a positive outlook for the year,” Welspun Group chairman B K Goenka said in a statement.
“We continue to take various measures for further strengthening our capabilities while maintaining financial discipline,” Goenka said.
Welspun Corp is a one-stop service provider offering complete pipe solution with a capability to manufacture line pipes ranging from half inch to 140 inches, along with specialized coating, double jointing and bending.