Pipe maker Welspun Corp Ltd (WCL) on Thursday reported a 45 per cent fall in its consolidated net profit to Rs 84.16 crore for the second quarter ended September 30, mainly due to higher expenses.
It had clocked Rs 153.83 crore net profit in the year-ago quarter, the company said in a regulatory filing.
Its total income, however, rose to Rs 1,358.44 crore in the second quarter, from Rs 1,227.01 crore a year ago.
The company's expenses stood at Rs 1,235.74 crore, compared to Rs 1,053.76 crore a year earlier.
BK Goenka, Chairman, Welspun Group said, "Our performance this quarter has been reasonably good despite grappling with input cost pressures. With sustainability at the core of our business and net cash balance in excess of 1,000 crores, we are well poised to execute on our business growth and diversification strategy".