Welspun Corp surges 10%, reports profit in Q3


Sharesof Welspun Corp surged more than 10 percent intraday Thursday as company turned profitable in the quarter ended December 2017.

The company posted a net profit at Rs 69.1 crore in the quarter e

nded December 2017 against loss of Rs 13 crore in the same quarter last year.

Revenue of the company doubled at Rs 2,304.2 crore versus Rs 1,149.2 crore.

The operating profit (EBITDA) was up 1.7 percent at Rs 145 crore and EBITDA margin was down 510 bps at 6.3 percent.

Tax credit of the company was at Rs 56.5 crore versus Rs 3.3 crore.


At 13:35 hrs Welspun Corp was quoting at Rs 166.25, up Rs 9.60, or 6.13 percent on the BSE.moneycontrol