Welspun Enterprises Q1 Results: Net profit grows 89% to Rs 92.80 crore

Welspun Enterprises Ltd on Tuesday posted an 89 per cent rise in net profit to Rs 92.80 crore during the April-June quarter on account of higher income.

The company had clocked a net profit of Rs 49.10 crore during the corresponding period of the preceding 2022-23 fiscal, the company said in a regulatory filing.

The company's total income also rose 5 per cent to Rs 750.04 crore in the quarter under review from Rs 715.49 crore in the year-ago quarter.

In a statement, WEL said its order book at present stands at Rs 9,600 crore.

The net cash of the company as of June 30, 2023, is Rs 1,057.7 crore on a standalone basis.

Welspun Enterprises Limited Managing Director Sandeep Garg said, "We are very pleased to have made a strong start to the new financial year and are reasonably confident of delivering consistent and robust revenue growth going forward. Our sustained efforts towards enhancing efficiencies and operating leverage bodes well for our future".

Part of Welspun Group, Welspun Enterprises Ltd (WEL) is an infrastructure development company focusing on the road, water and wastewater segments.

The company also has investments in oil & gas exploration.