 "Welspun Corp gains on strong Q2 results")
Welspun Corp has rallied 9% to Rs 112 on the BSE in an otherwise subdued market after the company reported multi-fold jump in consolidated net profit at Rs 101 crore for the second quarter ended September 2015 (Q2).
The company engaged in construction and engineering business had profit of Rs 5.25 crore in the same quarter last fiscal.
Total operational income during the quarter under review increased 4% at Rs 2,503 on year on year basis, while total expenditure declined 1% at Rs 2,313 crore over the previous year quarter.
Commenting on results, Mr B.K.Goneka, Chairman, Welspun Group said, outlook across Americas and few other markets has been positive and has enabled a healthy order book. This coupled with our continued focus on cost-optimisation and strengthening financials makes us ideally poised for the challenges ahead.
Welspun's current pipe order book stands at 8.52 lakh tonnes or Rs 5,200 crore. The major supplies are for the Middle East and North Africa region and the Americas, the company said.
At 09:39 AM, the stock was up 6% at Rs 110 on the BSE as compared to 0.38% decline in the S&P BSE Sensex. A combined 575,533 shares changed hands on the BSE and NSE.
The company engaged in construction and engineering business had profit of Rs 5.25 crore in the same quarter last fiscal.
Total operational income during the quarter under review increased 4% at Rs 2,503 on year on year basis, while total expenditure declined 1% at Rs 2,313 crore over the previous year quarter.
Commenting on results, Mr B.K.Goneka, Chairman, Welspun Group said, outlook across Americas and few other markets has been positive and has enabled a healthy order book. This coupled with our continued focus on cost-optimisation and strengthening financials makes us ideally poised for the challenges ahead.
Welspun's current pipe order book stands at 8.52 lakh tonnes or Rs 5,200 crore. The major supplies are for the Middle East and North Africa region and the Americas, the company said.
At 09:39 AM, the stock was up 6% at Rs 110 on the BSE as compared to 0.38% decline in the S&P BSE Sensex. A combined 575,533 shares changed hands on the BSE and NSE.
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