Leading pipe manufacturer and makers of Sintex brand, Welspun Corp has posted strong Q3 performance on the back of steady demand across the country. It’s Q3FY24 profit jumped to 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.
The company also approved an investment not exceeding Rs 44.25 Crore in a Special Purpose Vehicle (SPV) for supply of 42 MW renewable energy round-the-clock (RE-RTC) basis. The company would hold 21.54% equity share capital of SPV viz. Mounting Renewable Power Limited (MRPL).
