Welspun Enterprises Sees Mixed Financial Results in December Quarter

Welspun Enterprises reported a 4% decrease in consolidated profit after tax in the December quarter, despite a 22% increase in total income. The company's year-to-date figures show a slight growth in PAT and revenue. An acquisition further increased its stake in Welspun Michigan Engineers Ltd.

Infrastructure developer Welspun Enterprises reported a 4% decline in consolidated profit after tax for the December quarter, down to Rs 77 crore, from Rs 80 crore in the same last year, according to their recent statement.

Despite the dip in profit, total income surged by 22%, reaching Rs 919 crore, compared to Rs 754 crore a year prior. From April to December, the company's profit after tax saw a 3% increase to Rs 248 crore, with a significant revenue rise of 25% year-on-year, totaling Rs 2,563 crore.

The quarter also saw Welspun Enterprises boosting its equity in Welspun Michigan Engineers Ltd with a 9.99% acquisition, raising its stake to 60%. Managing Director Sandeep Garg highlighted the company's robust order book and projected an EBITDA of Rs 700 crore for FY25.

(With inputs from agencies.)