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Welspun Corp falls despite reporting 20% rise in Q4 consolidated net profit
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Welspun Corp is currently trading at Rs. 551.35, down by 49.70 points or 8.27% from its previous closing of Rs. 601.05 on the BSE.
The scrip opened at Rs. 584.50 and has touched a high and low of Rs. 584.50 and Rs. 550.00 respectively. So far 126823 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 636.95 on 21-May-2024 and a 52 week low of Rs. 252.95 on 01-June-2023.
Last one week high and low of the scrip stood at Rs. 625.00 and Rs. 550.00 respectively. The current market cap of the company is Rs. 14436.16 crore.
The promoters holding in the company stood at 50.14%, while Institutions and Non-Institutions held 22.69% and 27.17% respectively.
Welspun Corp has reported 6.92% fall in its net profit at Rs 188.72 crore for the fourth quarter (Q4) ended March 31, 2024 as compared to Rs 202.74 crore for the same quarter in the previous year. Total income of the company decreased by 3.05% at Rs 3,056.33 crore for Q4FY24 as compared Rs 3,152.49 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 19.66% rise in its net profit at Rs 287.28 crore for fourth quarter ended March 31, 2024 as compared to Rs 240.08 crore for the same quarter in the previous year. Total income of the company increased by 9.95% at Rs 4,543.70 crore for Q4FY24 as compared Rs 4,132.38 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the company has reported 71.85% rise in its net profit at Rs 476.35 crore as compared to Rs 277.19 crore for the previous year. Total income of the company increased by 19.57% at Rs 9,558.29 crore for year under review as compared to Rs 7,993.62 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the company has reported over 5-fold jump in its net profit at Rs 1,136.00 crore as compared to Rs 199.17 crore for the previous year. Total income of the company increased by 74.46% at Rs 17,582.06 crore for year under review as compared to Rs 10,078.08 crore for year ended March 31, 2023.
