Welspun Enterprises' Jan-Mar net profit soars to Rs 25 cr

Infrastructure firm Welspun Enterprises today said its consolidated net profit grew manifold to Rs 25.19 crore during the March 2018 quarter.

Its net profit during the corresponding year-ago period was at Rs 6.69 crore, Welspun Enterprises, part of the USD 2.3 billion Welspun Group, said in a BSE filing.

Its total income during the said quarter more than doubled to Rs 431.88 crore from Rs 214.24 crore in the March quarter of FY 2016-17.

"FY18 has been a remarkable year for Welspun Enterprises with strong operational and financial improvement. This has been the result of our focussed approach to infrastructure and particularly, HAM road projects," B K Goenka, Chairman, Welspun Group said in a statement.

Sharing its business plans, Welspun Enterprises said there are about 45 projects of NHAI open for bidding and the company eyeing a mojor part of the opportunity.

"Currently, there are close to 45 Hybrid Annuity Model (HAM) projects of National Highways Authority of India (NHAI), with a total project cost of Rs 450 billion, open for bidding and it is targeting to bid for around 30 of these projects aggregate value close to Rs 330 billion, with a total length of almost 1,400 km in the current quarter," the company said.