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Welspun Corp gallops on winning new orders

Capital Market 

Welspun Corp rose 3.55% to Rs 135.60 after the company said it has received additional orders of approximately 129 kilo metric tonnes (KMT) valued at about Rs 1,200 crore.

Out of these orders, approximately 69 KMT would be executed from our Saudi facility, including a single order of 45 KMT from Saudi Aramco. These orders bring in clear business continuity for FY22, both in domestic and Saudi market, the company said in a statement today, 30 December 2020.

Welspun Corp offers pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending.

On a consolidated basis, the company's net profit fell 4.1% to Rs 149.24 crore on a 50.8% decline in net sales to Rs 1094.50 crore in Q2 September 2020 over Q2 September 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 30 2020. 15:18 IST