Textile and line pipe manufacturer Welspun India today posted a net profit of Rs 15.55 crore for the quarter ended June 30 this year.
In the corresponding period last fiscal, the company had registered a net profit of Rs 33.27 crore.
The company's net sales rose by 9.9 per cent to Rs 449.85 crore in the quarter ended June from Rs 409.27 crore in the same period last year.
Welspun's caters to many of the Fortune 100 companies including Chevron and Wal-Mart.
Shares of the company plunged by 5.08 per cent to Rs 74.75 on the Bombay Stock Exchange at noon.
