Welspun shares zoom 20% as Q4 net jumps 11-fold

Shares of steel pipes manufacturer Welspun Corps today zoomed 20 per cent after the company reported 11-fold jump in consolidated net profit for the quarter ended March 2015.
The stock surged 19.98 per cent to settle at Rs 65.15 -- its highest trading permissible limit for the day on the BSE.
On the NSE, it jumped 19.93 per cent to end at Rs 65.
The company's market value rose by Rs 284.11 crore to Rs 1,713.11 crore.
Welspun Corps today reported 11-fold jump in consolidated net profit at Rs 144 crore for the quarter ended March 2015 on higher income.

The flagship firm of the USD 3 billion Welspun Group had reported a Rs 12.62 crore profit in January-March period of 2013-14.

The total income from operations rose to Rs 2,375 crore during the fourth quarter of the last fiscal as against Rs 1,534 crore in the same quarter of 2013-14.
Total expenses of the company during the January-March quarter stood at Rs 2,106 crore as against Rs 1,489 crore during the corresponding period of the previous fiscal.
For the entire financial year 2014-15, the company reported a profit after tax of Rs 69.04 crore, as compared to Rs 73.38 crore for the year ended March 31, 2014.

In the stock market, the BSE 30-share Sensex ended at 27,396.38, up 219.39 points.