Negative impact! Welspun Enterprises share price slips around 7% amid negative Q4 results – Check details here

As the fourth-quarter profit declined to over 50 per cent, the shares of Welspun Enterprises declined by around seven per cent to Rs 110 per share on the BSE intraday trade on Thursday. 

The company’s consolidated net profit slipped by 54 per cent to Rs 40.94 crore in the March-ended quarter of the financial year 2020-2021 versus Rs 89.08 crore in the same period a year ago, it said in a filing to the exchanges on Wednesday. 

Similarly, its consolidated total income during the last quarter of FY21 rose to Rs 600.97 crore as compared to Rs 515.70 crore in the year-ago period. 

The company has been on the decline since earlier this week, it fell by around 10 per cent in the last five sessions to Rs 110 per share as compared to Rs 120 per share on June 11. 

The company has informed the exchanges on Thursday that the board of directors has considered and approved, “Dividend at the rate of 15 per cent (i.e Rs. 1.5/-per equity share) of Rs. 10/- each fully paid up to the members whose name shall appear on the record date as may be fixed by the Board.” 

Meanwhile, the total expenses during the quarter also increased to Rs 535 crore, from Rs 434 crore a year ago, the company said in a statement. 

While other group companies’ stocks such as Welspun Corp and Welspun India too declined by around two per cent to Rs 148.5 and Rs 91.3 per share respectively on the BSE intraday trade today.

(Authored by Vaibhav Bansode)