Welspun Enterprises spurts after strong Q3 result

Welspun Enterprises advanced 5.3% to Rs 175.70 at 12:21 IST on BSE after net profit jumped 105% to Rs 34.40 crore on 336% surge in total income to Rs 298.10 crore in Q3 December 2017 over Q3 December 2016.

The results were announced after market hours yesterday, 14 February 2018.

Meanwhile, the S&P BSE Sensex was up 235.07 points, or 0.69% to 34,391.02. The S&P BSE Small-Cap index was off 13.02 points, or 0.07% to 18,479.67.

On the BSE, 1.51 lakh shares were traded in the counter so far, compared with average daily volumes of 2.14 lakh shares in the past one quarter. The stock had hit a high of Rs 184.90 and a low of Rs 170.20 so far during the day. The stock hit a 52-week high of Rs 198 on 10 January 2018. The stock hit a 52-week low of Rs 62.30 on 15 February 2017.

 

The stock had underperformed the market over the past 30 days till 14 February 2018, falling 8.45% compared with 1.77% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 14.56% as against Sensex's 3.17% rise. The scrip had also outperformed the market in past one year, surging 165.47% as against Sensex's 21.31% rise.

The small-cap company has equity capital of Rs 147.77 crore. Face value per share is Rs 10.

Welspun Enterprises' earnings before interest, taxation, depreciation and amortization (EBITDA) jumped 355% to Rs 46.20 crore in Q3 December 2017 over Q3 December 2016. EBITDA margin expanded to 15.5% in Q3 December 2017 from 14.9% in Q3 December 2016.

Welspun Enterprises, formerly Welspun Projects, part of the Welspun Group, is an operating company in the infrastructure business. The company also has investments in oil & gas exploration.

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