Welspun Corp said its net loss for the quarter ended June 2016 has widened to Rs 93.90. It reported a net loss of Rs 6.20 million in the same quarter previous year. Revenues for the quarter declined marginally 3.30% to Rs 15,563.60 million, compared with Rs 16,094.10 million for the prior year period.
Operating margin for the quarter stood at 6.25 percent as compared to 7.64 percent for the previous year period. Operating Income for the quarter was Rs 972.10 million, compared with Rs 1229.3 million in the previous year period.
Earnings per share stood negative at Rs 0.35 compared with negative Rs 0.13 in the same quarter last year.
B. K. Goenka, chairman, Welspun Group said, ''Turmoil in energy markets during second half of FY16 has impacted our Q1FY17 results besides affecting margin profile of the orderbook. Despite the challenges, we are pleased with our efforts in improving balance sheet and building a healthy orderbook. This has been made possible by our continuous endeavour to explore new opportunities across the global markets. Also, we remain committed to maintaining financial discipline with no additional project capex plan.''
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Jun - 16 | Jun - 15 | %Change |
| Revenues | 15,563.60 | 16,094.10 | (3.30) |
| Net Profit | (93.90) | (6.20) | - |
| Diluted EPS | (0.35) | (0.13) | - |
Shares of the company declined Rs 3.45, or 3.87%, to trade at Rs 85.70. The total volume of shares traded was 228,508 at the BSE (1.24 p.m., Thursday).
