Welspun Enterprises shares fell more than 2% in early trade after the company reported a weaker set of consolidated results for the December quarter, with revenue, EBITDA and net profit all declining on a year-on-year basis.
For Q3, consolidated revenue came in at Rs 786.95 crore, down 12.19% compared with Rs 896.12 crore in the same quarter last year. The decline reflects lower execution levels across projects during the quarter, weighing on the topline performance.
EBITDA stood at Rs 154.14 crore, marginally lower by 2.09% from Rs 157.44 crore reported a year ago. Despite the fall in absolute EBITDA, operating efficiency improved, with the EBITDA margin expanding by 201 basis points to 19.58% from 17.56% in the year-ago period, indicating better cost control and project-level margins.
Net profit witnessed a sharp contraction, declining 66.4% year-on-year to Rs 24.02 crore, compared with Rs 71.49 crore in Q3 of the previous financial year. The steep fall in profitability kept investor sentiment cautious, contributing to the stock’s decline following the results.
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