Welspun Corp profit falls 30% to Rs 263 cr in Q4 due to higher expenses

Welspun Corp Limited (WCL) on Friday said its consolidated net profit fell by 30 per cent to Rs 263.56 crore in the quarter ended March on account of higher expenses.

The company had posted a net profit of Rs 372.63 crore in the same period of FY21, WCL said in a regulatory filing.

However, its total income increased to Rs 2,413.48 crore during the quarter under review from Rs 2,131.07 crore in the year-ago period.

The company's expenses soared to Rs 2,033.16 crore in the March quarter from Rs 1,853.09 crore in the same period a year ago.

Meanwhile, the company's board approved the re-appointment of Vipul Mathur as the Managing Director and CEO for a period starting from December 1, 2022 to November 30, 2027.

Welspun Corp, the flagship company of Welspun Group, is a leading welded line pipe manufacturer.