Welspun Corp Q1 Profit Soars 41% to Rs 349 cr

New Delhi, Jul 29 (PTI) Welspun Corp Ltd (WCL) on Tuesday posted around 41 per cent growth in consolidated net profit to Rs 349.16 crore for June quarter, driven by higher revenues mainly from steel products.

Welspun Corp, the flagship company of USD 5 billion Welspun World, had clocked a net profit of Rs 247.03 crore in the April-June period of preceding 2024-25 financial year.

In the first quarter, income increased to Rs 3,586.52 crore from Rs 3,179.67 crore in the same period a year ago, it said in an exchange filing.

Revenue from steel products segment was at Rs 3,393.06 crore, higher from Rs 3,137.23 crore in the year-ago quarter.

In an investor presentation, the company said its orderbook has reached to the level of Rs 19,000 crore in line pipes, ductile iron (DI) pipes and SS bars and pipes.

Welspun Corp said it is investing around Rs 5,482 crore in India and abroad on various projects which are on track and scheduled to be completed by FY27.

Sharing outlook for line pipes, the company said it continues to observe strong demand for Longitudinal Submerged Arc Welding (LSAW) pipes for critical applications such as deep offshore. The demand will also remain on the back of growing demand from oil and gas and water sectors.

As per company data, its gross debt was Rs 1,032 crore in Q1FY26.

Weslpun Corp is among the top three manufacturers of large-diameter pipes globally and has established footprint across 50+ countries by delivering key customised solutions for both onshore and offshore applications.

It also manufactures DI pipes and stainless steel pipes, tubes and bars.