The company had posted a consolidated net profit of Rs 76.5 crore in the year-ago period.
Welspun Enterprises is seeking shareholders' approval for buying back up to 25 percent of its share capital at Rs 62 per equity share for an aggregate consideration not exceeding Rs 270 crore.
Its income from operations in the quarter under review stood at Rs 1,789.94 crore, up 21.81 per cent compard to Rs 1,469.44 crore in same period last year, Welspun India said in a BSE filing.
Pipes manufacturer Welspun Corp today logged a consolidated net loss of Rs 9.45 crore in the June quarter against a net profit of Rs 104.4 crore in the same period last fiscal.
Government approved a Rs 6,000 crore special package for textiles and apparel sector to create one crore new jobs in 3 years, attract investments of USD 11 billion and generate USD 30 billion in exports.
The firm said in a BSE filing that its total consolidated income fell by 21 percent to Rs 1,840.9 crore in January- March quarter of 2015-16, from Rs 2,331.4 crore during the same quarter of the 2014-15 fiscal.
The flagship firm of the USD 3-billion Welspun Group said the return to profitability was due to 35 percent increase in revenue at Rs 1,944.1 crore as the company reopened its US mill during the quarter while in the year-ago period it was on a maintenance shutdown.
Welspun Corporation, a large diameter pipe manufacturer, today said it has bagged orders worth Rs 1,738 crore from overseas and domestic markets