Welspun Enterprises’ net profit jumps 8% y-o-y in Q2

30 Oct 2024 , 10:39 AM

Welspun Enterprises reported a net profit of ₹70 Crore in the second quarter, up 7.7% from ₹65 Crore the previous year.

Revenue increased by 22.1% to ₹788.5 Crore, compared to ₹645.7 Crore in the same period last year.

The company’s EBITDA increased 21.7% to ₹100.5 Crore, from ₹82.6 Crore the previous year. However, the EBITDA margin fell slightly to 12.7%, down from 12.8% the previous year.

Welspun is an infrastructure development business that specialises on transportation, water and wastewater, and tunneling. The corporation also makes investments in oil and gas exploration. The company has completed numerous water supply projects as well as over 1,000 km of road construction.

Separately, Welspun Enterprises announced the hiring of Abhishek Chaudhary as CEO, beginning November 4, 2024.

Welspun Enterprises Limited (WEL), originally Welspun Projects Ltd., is part of the USD 2.7 billion Welspun Group. The company operates in the infrastructure area and invests in oil and gas.

At around 10.34 AM, Welspun Enterprises was trading 1.55% lower at ₹484, against the previous close of ₹491.60 on NSE. The counter touched an intraday high and low of ₹492.15, and ₹469.05, respectively.

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