Welspun Corp Q2 net profit at Rs 40 cr

Welspun Corp, the flagship company of the Welspun Group, today reported a consolidated net profit of Rs 40.37 crore for the September quarter on account on higher income.
The pipe manufacturer had posted a net loss of Rs 34.85 crore during the same period of the previous fiscal, it said in a regulatory filing.
Total income during the quarter under review stood at Rs 2,043.21 crore compared to Rs 1,251.59 crore in the year-ago period.
"Q2 witnessed a repeat of Q1 in terms of above average margins led by execution of some niche orders. Domestic market remains buoyant with strong demand coupled with favourable policy measures taken by the Government of India," Welspun Group Chairman B K Goenka said.

The company maintains a positive outlook on volumes for next fiscal, he added.
"We continue to enhance our value proposition, customer reach and technical know-how which make us one of the front- runners for increasingly diversified and technically demanding projects worldwide," he said.
The stock of Welspun Corp closed 2.63 per cent down at Rs 153.75 on the BSE.