Welspun Corp Limited revealed on Monday that it had received an order for coated LSAW pipes and bends for sour service from the Middle East. The company stated in a regulatory filing that these orders will be executed in FY25 and FY26.
This means that since the company’s last declaration on July 24, 2024, the total amount of the line pipe orders it has received from both India and the USA is roughly Rs 1,348 crore.
Welspun Corp announced its fiscal first-quarter numbers earlier in August, revealing a 50% YoY increase in net profit at Rs 248.2 crore. Welspun Corp reported a net profit of Rs 165 crore for the same quarter. Compared to the same time in the previous fiscal year, when it was Rs 4,069.3 crore, the company’s revenue from operations decreased by 22.9% to Rs 3,137.3 crore.
Operating-wise, EBITDA increased 1.4% to Rs 374 crore in the first quarter of this fiscal year from Rs 368.8 crore in the same period last year.
