Welspun Corp Q1 net profit zooms 493.44% at Rs 112.16 cr

Welspun Corp Q1 net profit zooms 493.44% at Rs 112.16 cr

04/08/2017 13:12

Welspun Corp Ltd. reported standalone net profit of Rs 112.16 crore for the quarter ended June 30, 2017 as compared to Rs 18.90 crore in the same period last year, registering a year-on-year growth of 493.44 per cent.

Net revenue of the company rose moderately by 11.74 per cent at Rs 1,281.89 crore in April-June quarter of this fiscal as against Rs 1,147.25 crore in the corresponding period last year.

During April-June quarter, operating expenses increased by 3.84 per cent to Rs 1,129.69 crore from Rs 1,087.93 crore in year ago period.

Other income grew by 58.28 per cent at Rs 62.44 crore versus (Jun’16 Rs 39.45 crore).

Operating profit surged by 128.07 per cent to Rs 213.18 crore as against Rs 93.47 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 111.41 per cent in June quarter.

Interest declined by 8.23 per cent y-o-y to Rs 44.13 crore, while taxation increased by 549.39 per cent at Rs 59.03 crore (Jun’16 Rs 9.09 crore).

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