Welspun Corp hits the roof on turnaround in performance

Welspun Corp hit an upper circuit of 5% at Rs 84.50 after the company reported a consolidated net profit of Rs 138.27 crore in Q4 FY20 as against net loss of Rs 148.72 crore in Q4 FY19.

Revenue from operations in the fourth quarter remained almost flat at Rs 2,687.10 crore compared with the corresponding period last fiscal.

Pre-tax profit in Q4 FY20 stood at Rs 312.93 crore as against a pre-tax loss of Rs 79.05 crore in Q4 FY19. Current tax expenses jumped to Rs 79.34 crore in Q4 March 2020 from Rs 30.22 crore in Q4 March 2019. Total expenses declined 10.1% to Rs 2,551.89 in Q4 FY20 over Q4 FY19.

Welspun Corporation offers pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending. It is a preferred supplier to most of the Fortune 100 oil & gas companies.

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