Welspun Enterprises’ net profit declines 51% to ₹77 crore, dividend announced

The company had reported a net profit of ₹155.6 crore in the year-ago period.

The revenue from operations declined 3% to ₹821.1 crore in the quarter under review from ₹845 crore in the corresponding period last year.

Earnings before interest, taxes, depreciation, and amortisation or EBITDA rose 17% to ₹111 crore in Q4 FY24 compared to ₹95 crore in the same period last fiscal year, while the EBITDA margin was 13.5%.

According to a regulatory filing, the company's consolidated income decreased to ₹866.7 crore in the March 2024 quarter from ₹916.46 crore in the year-ago period.

For the entire FY23, net profit slumped 52.3% to ₹324.5 crore, while revenue from operations increased 4.1% to ₹2,872.2 crore.

The company's board also announced a final dividend of ₹3 per equity share of the face value of ₹10 each for fiscal year 2023-24.

Welspun Enterprises shares decline

Shares of the construction engineering firm declined 4% to ₹381.6 on the NSE after the results. Intraday, the stock hit a low of ₹357.

It was down 3.7% to ₹381.9 on the BSE.

Welspun Enterprises is an infrastructure development company that has projects in the infrastructure and energy sectors.