Welspun Corp: Doubling Profits Amid Global Expansion and Rising Demands

Welspun Corp Ltd reported over two-fold increase in consolidated net profit to Rs 672.19 crore for December quarter 2023-24, driven by cost-cutting and strategic projects. Despite lower total income, the company's expansion plans in the US and Saudi Arabia aim to tap into rising demand for pipeline solutions.


Devdiscourse News Desk | New Delhi | Updated: 05-02-2025 19:07 IST | Created: 05-02-2025 19:07 IST
Welspun Corp: Doubling Profits Amid Global Expansion and Rising Demands
This image is AI-generated and does not depict any real-life event or location. It is a fictional representation created for illustrative purposes only.
  • Country:
  • India

On Wednesday, Welspun Corp Ltd announced a significant surge in its consolidated net profit, which more than doubled to Rs 672.19 crore during the December quarter, bolstered by reduced expenses.

The company recorded a previous net profit of Rs 293.70 crore for the October-December period of the prior fiscal year, according to an exchange filing report.

Despite a drop in total income to Rs 3,656.57 crore from Rs 4,758.17 crore year-on-year, Welspun Corp managed to cut costs down to Rs 3,351.36 crore from Rs 4,438.79 crore the year before. Additionally, the company's statement highlighted a robust order book hitting Rs 15,000 crore.

Welspun Corp sees a boost in demand for ductile iron pipes, spurred by the Indian Union Budget announcement to increase the Jal Jeevan Mission's funding to Rs 67,000 crore and its extension to 2028. In the United States, market prospects have improved considerably with the focus of the new administration on deregulation in the Oil & Gas sector.

The company targets to complete its Rs 840 crore high-frequency induction welding pipe manufacturing unit in the US by March 2026. Furthermore, a major investment of Rs 1,660 crore in Saudi Arabia for DI pipes and LSAW plant construction is expected to finalize by April of the coming year.

Welspun Corp, one of the leading global producers of large-diameter pipes, capitalizes on burgeoning opportunities across its global footprint spanning six continents and 50 nations, particularly in Saudi Arabia where the burgeoning population demands enhanced water infrastructure.

(With inputs from agencies.)

Give Feedback