Shares of Welspun Enterprises Limited surged over 9 percent to Rs 406 in the afternoon on May 22, hovering close to a 52-week high, after emerging as the lowest bidder to construct an access-controlled multi-modal corridor in Navghar to Balavali, Maharashtra.
"The quoted amount is Rs 1,864.71 crore and will be constructed within 36 months from the date of notice of commencement," the company said in a regulatory filing on May 22.
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In its fiscal fourth quarter, the company reported a 45 percent year-on-year (YoY) decline in net profit, falling to Rs 78 crore. Total consolidated revenue for the quarter decreased by 5 percent YoY, reaching Rs 867 crore.
Welspun Enterprises’ consolidated earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped 6 percent YoY to Rs 157 crore. The EBITDA margin contracted by 5 basis points (bps) YoY to 18.1 percent.
For the financial year ending March 31, 2024, the company experienced a 56 percent YoY decline in net profit, down to Rs 319 crore. However, total income for FY24 increased by 6 percent YoY to Rs 3,063 crore
At about 2:40 pm, shares were trading at Rs 394, up 6.3 percent from the last close on the NSE. Weslpun Enterprises shares have rallied nearly 164 percent in the last year.
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