Welspun Corp, a provider of pipe solutions, witnessed a sharp rise in share price on Thursday after it announced a sharp rise in standalone net profit for the quarter ended December 2014. 

During the quarter, the profit of the company rose 2.33 times to Rs 174.90 million from Rs 75.10 million  in the same quarter last year.

Net sales for the quarter  rose 29.14% to Rs 22,496.60 million, compared with Rs 17,420 million for the prior year period.

Shares of the company are trading at Rs 71, up Rs 3.1, or 4.57% at the Bombay Stock Exchange (BSE) on Thursday at 12:44 p.m.

The scrip has touched an intra-day high of Rs 74.55 and low of Rs 70.10. The total volume of shares traded at the BSE is 249,948.