Welspun India Q1 net profit down 91.25% at Rs 14.70 cr
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The company reported standalone net profit of Rs 14.70 crore for the quarter ended June 30, 2022 as compared to Rs 168.05 crore in the same period last year, registering a year-on-year decline of 91.25 per cent. Net revenue of the company declined substantially by 20.19 per cent at Rs 1,381.14 crore in April-June quarter of this fiscal as against Rs 1,730.60 crore in the corresponding period last year.
During April-June quarter, operating expenses dropped by 6.55 per cent to Rs 1,310.43 crore from Rs 1,402.30 crore in year ago period. Other Income grew by 53.70 per cent at Rs 26.19 crore versus (Jun'21 Rs 17.04 crore). Operating Profit slipped by 78.46 per cent to Rs 70.71 crore as against Rs 328.30 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 73.01 per cent in June quarter. Interest declined by 54.10 per cent y-o-y to Rs 13.45 crore, while Taxation decreased by 90.37 per cent at Rs 7.88 crore (Jun'21 Rs 81.80 crore).
