Moneycontrol
Oct 21, 2014 04:02 PM IST | Source: Moneycontrol.com

Welspun Corp turns profitable, Q2 net at Rs 5.3 cr

The company’s net sales were up by 10 percent at Rs 2,299 crore versus Rs 2,090 crore, Y-o-Y.

Welspun Corp has reported consolidated second quarter net profit at Rs 5.3 crore as against loss of Rs 33.8 crore, Y-o-Y. The company’s net sales were up by 10 percent to Rs 2,299 crore versus Rs 2,090 crore, Y-o-Y.

MD BK Mishra told CNBC-TV18 that it has been an all-round better performance this quarter and the company expects to maintain that going ahead.

”Welspun has been a global player and 70-80 percent of our sales comes from global market. We are currently operating from three manufacturing bases – one is India, second is Saudi and third is US,” he added.

However, the company’s EBITDA was down 17.5 percent at Rs 185 crore versus Rs 224 crore year-on-year. The margins also declined to 7.7 percent against 10.3 percent last year.

At 14:17 hrs Welspun Corp was quoting at Rs 79.40, up Rs 1.30, or 1.66 percent.

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