Welspun gets orders worth Rs 30 bn

MUMBAI: Steel pipemaker Welspun Gujarat Stahl Rohren Ltd said on Friday it has won orders worth Rs 30 billion for diversified markets in India and the US, taking its orderbook to 2.5 times last year's turnover.

Welspun reported a net profit to Rs 3.4 billion on a total income of 40.1 billion rupees in the year ending March 2008 on higher export orders.

"We have received this order from one of our existing clients," President Akhil Jindal said, but did not name the client. "This takes our orderbook to 2-�� times of last year's turnover."

Higher crude oil prices have spurred demand for pipes globally with rising potential for oil exploration activities, Jindal said.

Welspun, which recently commissioned its 1.5-million-tonne plate mill, exports around 80 percent of its output annually.

Shares in the company ended at 304.05 rupees, down 2.49 percent, in a weak Mumbai market.