Welspun Corp consolidated revenue for the quarter came in at Rs. 2033 crore, registering 5.3% yoy increase. Pipes sales (excluding Saudi Arabia operation) volume up 28% yoy.
EBITDA for the quarter rose by 3.1% yoy to Rs. 204 crore with a corresponding margin contraction of 21 bps. EBITDA margin for the quarter stood at 10%.
The PAT for the quarter came in at Rs. 68.6 crore, yoy increase of 425.2%. This was mainly driven by jump in other income to Rs. 103 crore as against the Rs. 12.38 crore in corresponding quarter of last year.
Looking at full year number, we see that revenue for FY17 declined 18.5% yoy to Rs. 5899 crore and EBITDA for the year decreased by 34.1% yoy to Rs. 515 crore. The company reported PAT of Rs. 10.1 crore, down 94.4% yoy.
Welspun Corp Ltd is currently trading at Rs. 86.8, up by 5.3 points or 6.5% from its previous closing of Rs. 81.5 on the BSE.
The scrip opened at Rs. 82 and has touched a high and low of Rs. 91.3 and Rs. 81.1 respectively. So far 5838960(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 50 DMA.
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