Infrastructure firm Welspun Enterprises today said its consolidated net profit grew manifold to Rs 25.19 crore during the March 2018 quarter.
Its net profit during the corresponding year-ago period was at Rs 6.69 crore, Welspun Enterprises, part of the USD 2.3 billion Welspun Group, said in a BSE filing.
Its total income during the said quarter more than doubled to Rs 431.88 crore from Rs 214.24 crore in the March quarter of FY 2016-17.
"FY18 has been a remarkable year for Welspun Enterprises with strong operational and financial improvement. This has been the result of our focussed approach to infrastructure and particularly, HAM road projects," B K Goenka, Chairman, Welspun Group said in a statement.
Sharing its business plans, Welspun Enterprises said there are about 45 projects of NHAI open for bidding and the company eyeing a mojor part of the opportunity.
"Currently, there are close to 45 Hybrid Annuity Model (HAM) projects of National Highways Authority of India (NHAI), with a total project cost of Rs 450 billion, open for bidding and it is targeting to bid for around 30 of these projects aggregate value close to Rs 330 billion, with a total length of almost 1,400 km in the current quarter," the company said.
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