Welspun Corp Ltd on Wednesday (February 5) reported a 127% year-on-year (YoY) spike in net profit at ₹674.7 crore for the third quarter that ended December 31, 2024. This is against a net profit of ₹297.9 crore in the year-ago quarter.

Revenue from operations dropped 23.9% to ₹3,613.5 crore against ₹4,749.7 crore in the corresponding period of the preceding fiscal.

The company’s EBITDA fell 6.1% to ₹434.4 crore in the third quarter of this fiscal over ₹463 crore in Q3 FY24. The EBITDA margin stood at 12% in the reporting quarter compared to 9.8% YoY. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Welspun Corp’s board has approved the sale of 1,900 equity shares, representing a 19% stake in Welassure Private Limited, to Rakshak Securitas Private Limited, a non-related party.

Additionally, the board has sanctioned an investment of up to ₹250 crore in its subsidiary, Welspun Specialty Solutions Limited (WSSL), for subscribing to the company’s rights issue. The investment will be executed upon the issuance of the letter of offer for the rights issue by WSSL.

The results came after the close of the market hours. Shares of Welspun Corp Ltd ended at ₹732, up by ₹11.30, or 1.57%, on the BSE.

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