Welspun Q1 net up 69.83 pc at Rs 26.41 cr

Diversified business group Welspun India posted a 69.83 per cent increase in its net profit.

Diversified business group Welspun India posted a 69.83 per cent increase in its net profit to Rs 26.41 crore for the quarter ended June 30,2011 as against the same period last fiscal.

The company had a net profit of Rs 15.55 crore for the quarter ended June 30,2010,Welspun India said in a filing to the Bombay Stock Exchange.

During the reported quarter,the firm’s net sales increased by 17.86 per cent to Rs 530.21 crore from Rs 449.85 crore posted in the corresponding quarter last fiscal.

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Welspun India has interest in various businesses including line pipes,home textiles,infrastructure,energy and oil and gas.

Shares of Welspun India closed at Rs 37.30 on the BSE,down 4.48 per cent from the previous close.

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