Welspun Corp soars 9% on robust Q2 earnings

Mumbai: Shares of pipes maker Welspun Corp on Monday soared nearly 9 percent after it reported multi-fold jump in consolidated net profit to Rs 101.09 crore for the quarter ended September 30.

The stock jumped 8.65 percent to Rs 112.30 on BSE.

Similarly, on NSE it zoomed 8.26 percent to Rs 112.

The Welspun Group company had clocked a net profit of Rs 5.25 crore in the year-ago period, it had said in a BSE filing on Saturday.

Total consolidated income rose by 4 percent to Rs 2,503.28 crore in the July-September quarter of the ongoing fiscal from Rs 2,412.40 crore in the same quarter of 2014-15.

Total expenses of the firm were marginally lower at Rs 2,312.83 crore from Rs 2,326.30 crore during the quarter under review.