Mid Cap Metal Co Declares 9% Dip In Net Profit, Recommends 100% Dividend

Mid cap company operating in Metal & Ferrous sector, Welspun Corp Limited on Wednesday announced 8.90% dip in its consolidated net profit to Rs 240.08 crore for the January to March quarter due to increased expense. Earlier, the company had declared a net profit of Rs 263.56 crore for the corresponding quarter of last year. Board of directors recommended Rs 5 per share dividend. Check details below:

Welspun Corp Limited Declares 100% Dividend: According to the BSE filing of the company, board recommended a dividend at the rate of 100% (i.e. Rs 5 per share) on 261,529,395 equity shares of Rs 5 each fully paid-up, aggregating to Rs 1,307,646,975." The company fixed June 16, 2023 as the record date for dividend.

Welspun Corp Limited Stock Performance & Return: Last trading price of Welspun Corp Limited share is Rs 252.60 per share with intraday gain of 3.78%. Welspun Corp Limited stock witnessed spurt in volume by more than 6.77 times. Welspun Corp Limited stock's 52-week high price is Rs 298.35 per share and 52-week low price is Rs 177.85 per share, respectively.

The company has a market capitalisation of Rs 6,606.23 crore. Welspun Corp share soared 37% in last 3-months, gave 12% return in last 1-year, 65% return in last 2-years, and 317% return in last 3-years.

Welspun Corp Q4: Its total income soared to Rs 4,132.38 crore as against Rs 2,413.48 crore declared in the year-ago quarter. The expenses jumped to Rs 3,835.55 crore from Rs 2,033.16 crore in the January-March period of FY22.

B. K. Goenka, Chairman, Welspun Group said, "We have seen flawless execution and delivery for our customers resulting in strong cash flows and a substantial reduction in net debt. The acquisition of the plastic products business of Sintex has given us a head start in our foray into the B2C segment."

About: Welspun Corp Limited (WCL) is a one-stop service provider offering end-to-end pipe solutions ranging from 1½ inches to 143 inches. Our ever-expanding goals and targets have helped us establish a global footprint with stellar results in the line pipes business, based across six continents and fifty countries.