Welspun Corp Q2 Results: Profit falls 27% to Rs 283 cr; board approves over Rs 2,000 cr investments
quarter, mainly on account of fall in income. It had posted Rs 386.57 crore net profit for July-September 2023, the company said in an exchange filing.
Total income declined to Rs 3,364.23 crore from Rs 4,161.41 crore in the second quarter last fiscal.
Expenses were at Rs 3,074.90 crore as against Rs 3,820.59 crore a year ago.
The board also approved several investment proposals in India and abroad worth over Rs 2,000 crore.
It approved a proposal to increase ductile iron pipes capacity to 250 KMTPA from 150 KMTPA, along with setting up the 350 KMTPA LSAW (Longitudinal Submerged Arc Welding) pipes facility at investment of up to USD 200 million (about Rs 1,680 crore) in Saudi Arabia.
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