Welspun Enterprises Reports 45.4% Profit Decline

Welspun Enterprises announced a significant 45.4% drop in its consolidated profit for Q1 2024, falling to Rs 77.67 crore from Rs 142.41 crore the previous year. Consolidated income also decreased, leading to an 8% decline in share price. The company operates across the infrastructure and energy sectors.

Welspun Enterprises on Tuesday reported a 45.4 per cent decline in consolidated profit to Rs 77.67 crore for the quarter ended on March 31, 2024.

The company posted a consolidated profit of Rs 142.41 crore in the year-ago period.

The consolidated income dropped to Rs 866.70 crore in the January-March quarter from Rs 916.46 crore in the year-ago period, according to an exchange filing by the company.

Welspun Enterprises is an infrastructure developer with diversified portfolio of projects in infrastructure and energy sectors. Shares of the company tanked more than 8 per cent to trade at Rs 363.65 per share on BSE in the pre-close session.

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