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2 min read | Updated on August 08, 2024, 16:03 IST
SUMMARY
Welspun Corp’s revenue from operations dropped to ₹3,137.23 crore in Q1FY25 from ₹4,069.27 crore in the year-ago period. Meanwhile, its Q1 net profit increased 47% YoY to ₹247.94 crore from ₹168.45 crore in Q1FY24, aided by strong exports.
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Welspun Corp reports sharp decline in Q1 revenue; shares dip 3%
Welspun Corp’s revenue from operations dropped to ₹3,137.23 crore in Q1FY25 from ₹4,069.27 crore in the year-ago period. On a quarter-on-quarter basis, its revenue from operation fell nearly 30% from ₹4,461.17 crore in Q4FY24.
The company informed the exchanges about its financial results for the quarter that ended on June 30 of FY25 on Wednesday after market hours.
The net profit for Q1 increased 47% YoY to ₹247.94 crore from ₹168.45 crore in Q1FY24. Welspun Corp’s net profit decreased over 13% QoQ from ₹287.28 crore in the March quarter of FY24.
The company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) in Q1FY25 remained nearly flat at ₹416 crore from ₹418 crore in the corresponding period of last fiscal. The EBITDA margin increased 300 basis points (bps) to 13% in Q1FY25 from 10% in Q1FY24. The company mentioned in a release that in the June quarter of FY25, its margins improved on the back of a better mix of export orders and contributions from new businesses.
Welspun Corp Ltd is a part of the Welspun World conglomerate. The company is engaged in businesses such as line pipes, home textiles, infrastructure, warehousing, oil & gas, steel, advanced textiles and flooring solutions.
Welspun Corp shares have traded with an upward trend on the NSE. The company’s stock has gained over 93% in a year and has given returns of over 18% year-to-date (YTD). The stock has gained over 12% in six months and more than 5% in a month.
Welspun Corp shares closed 0.31% lower at ₹649.5 per piece on the NSE.
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