Welspun Corp’s stock dropped 2% after announcing its Q3 results. The shares opened at ₹740.00, reaching a high of ₹740.00 and a low of ₹711.00 during trading. The stock’s 52-week high stands at ₹835.00, while the 52-week low is ₹440.15.
The company posted a 127% year-on-year (YoY) rise in net profit to ₹674.7 crore for Q3 FY25, compared to ₹297.9 crore in the same period last year.
Despite the profit surge, the company’s revenue from operations declined by 23.9% to ₹3,613.5 crore, down from ₹4,749.7 crore in Q3 FY24. EBITDA fell 6.1% YoY to ₹434.4 crore, but the EBITDA margin improved to 12%, up from 9.8% in the year-ago quarter.
In a strategic move, Welspun Corp’s board approved the sale of a 19% stake (1,900 shares) in Welassure Private Limited to Rakshak Securitas Private Limited. Additionally, the company greenlit an investment of up to ₹250 crore in its subsidiary, Welspun Specialty Solutions Limited (WSSL), for subscribing to its rights issue.
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