Welspun Corp gains on bagging orders worth Rs 600 cr

Welspun Corp gained 2.79% to Rs 219 after the company said it has secured various orders worth about Rs 600 crore to be executed from India and the USA across the oil & gas and water sector of about 47,000 MT.

The company received an order for the supply of onshore coated pipes and bends for a pipeline project in Australia. This order entails manufacturing and supplying 19,700 million tonne of pipes and 180 bends for transportation of gas.

This export order will be executed from the company's plant at Anjar, India in the second half of the financial year ending 31 March 2023.

This is the fourth order from Australia that Welspun Corp has won in the recent past, said the company.

Welspun Corp is a one-stop service provider offering end-to-end pipe solutions. The company's consolidated net profit declined 22.9% to Rs 236.14 crore despite of 3.5% rise in revenue from operations to Rs 1986.56 crore in Q4 FY22 over Q4 FY21.

Powered by Capital Market - Live News