High costs hit Welspun net, but revenues rise 26%
Total expenses recorded an increase of 28 per cent at Rs 2,003 crore.
By ET Bureau |
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MUMBAI: Steel pipes and plates maker Welspun Corporation recorded a decline in net profit for the quarter ending June, impacted by increased costs even as revenues registered a growth for the period.
Net profit declined 15 per cent at Rs 43.70 crore while revenue from operations increased by 26 per cent at Rs 1,949 crore on the back of higher volumes.
Total expenses recorded an increase of 28 per cent at Rs 2,003 crore.
The company's production of pipes were up by 26 per cent with a 22 per cent growth in sales since last year.
It is currently sitting on an order book of Rs 11,100 crore at 1,602 KT doubling since last year's volume of 700 KT.
Production of plates and coils too more than doubled to 123 KT.
Net profit declined 15 per cent at Rs 43.70 crore while revenue from operations increased by 26 per cent at Rs 1,949 crore on the back of higher volumes.
Total expenses recorded an increase of 28 per cent at Rs 2,003 crore.
The company's production of pipes were up by 26 per cent with a 22 per cent growth in sales since last year.
It is currently sitting on an order book of Rs 11,100 crore at 1,602 KT doubling since last year's volume of 700 KT.
Production of plates and coils too more than doubled to 123 KT.
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