Welspun Corp stock hits a 52-week high after pipe manufacturers strong Q2 show
Welspun Corp posted a consolidated net profit of Rs 385 crore for the July-September quarter on the back of higher revenue and a reduction in debt.
Welspun Corp Share Price: Welspun Corp shares get boost after healthy September quarter results as the stock hit a 52-week high of Rs 495.65 in morning deals on BSE on Thursday (November 9).
The share that closed at Rs 456.85 on Wednesday evening opened at Rs 480 on Thursday after the company announced its second-quarter results in post market hours a day before.
It took the stock a little over an hour to hit its 52-week high on Thursday.
The shares were trading higher by 7.20 per cent, or Rs 32.90, at Rs 489.75 each, at 10:29 am on Thursday.
Welspun Corp reported a strong performance in its second quarter and converted its loss into profit.
It posted a consolidated net profit of Rs 385 crore for the July-September quarter on the back of higher revenue and a reduction in debt.
It had reported a Rs 52 crore loss during the July-September period last fiscal.
Its revenue from operations surged to Rs 4,059.45 crore in Q2 from Rs 1,963 crore in the year-ago quarter.
The company also reported an EBITDA of Rs 399.5 crore in the quarter under preview as against an EBIDTA loss of Rs 131.2 crore in the same quarter last year.
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