Welspun Corp on Friday announced that it has received line pipe order, both in India and the US, cumulatively valued at Rs 2039 crore since its last disclosure on February 6, 2024.
In a regulatory filing, the company said that the new order in the US not only ascertain business continuity till Q2FY25 but also reaffirms the firm’s dominant position in the USA onshore gas transmission sector.
It further said, “Also from the orders in India, one being for supplies to USA offshore, reaffirms our technical excellence and customer trust on us, for executing critical projects, especially in the very challenging and demanding Gulf of Mexico.”
The execution of these orders, Welspun said, will mostly be during FY25.
Earlier in February, Welspun Corp had posted strong Q3 performance on the back of steady demand across the country. The company recorded Q3FY24 profit at Rs 291.86 crore, up 12-fold YoY from Rs 23.24 crore in the same quarter last fiscal. The total income in Q3 came in at Rs 4758.17 crore, almost doubled YoY from Rs 2410.33 crore in Q3FY23.