Welspun Enterprises Q1 Results: Profit Down Marginally, Revenue Declines 9%

Welspun Enterprises Ltd. reported a 1% decline in net profit for the first quarter of the financial year.

The company reported a consolidated bottom line of Rs 103.33 crore against Rs 104.44 crore in the year-ago period, according to an exchange filing on Wednesday.

• Revenue down 9.1% to Rs 845.05 crore versus Rs 929.96 crore.

• Net profit down 1% to Rs 103.33 crore versus Rs 104.44 crore.

• Ebitda up 12% to Rs 182.18 crore versus Rs 162.99 crore.

• Margin expands to 21.6% versus 17.5%.

Shares of Welspun Enterprises closed 2.96% lower at Rs 462.20 apiece on the National Stock Exchange, compared to a 0.31% decline in the benchmark Nifty. The share price has fallen 24.77% in the last 12 months and 12.81% on a year-to-date basis.

Out of the 11 analysts tracking the company, six have a 'buy' rating on the stock and five recommend 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 41.3%.