Welspun India has soared 7% to Rs 67.80 extending its 18% rally in past on week after textile firm reported an over two-fold increase in consolidated net profit at Rs 85 crore during the first half (April-September) of current financial year 2012-13.
The company had posted a net profit of Rs 39 crore in the corresponding period last year, Welspun India said in a filing to the BSE. Total operational income grew 24% at Rs 1,551 crore on year-on-year basis.
The home textile manufacturer is eyeing up to $650 million (about Rs 3,548 crore) revenue by the end of this fiscal on the back of solid order book, a media report suggests quoting a senior company official.
Meanwhile, the company has fixed November 23, 2012 as the record date for the purpose of payment of interim dividend of 20% or Rs 2 per equity share having nominal value of Rs 10/- for the financial year 2012-13.
The stock opened at Rs 63.30 and hit a two-year high of Rs 68.30 on the NSE. A combined 216,371 shares have already changed hands on the counter so far against an average around 160,000 shares that were traded daily in past two weeks.
