Welspun Corp Ltd.'s net loss expanded 15 times to Rs 9.4 crore in the April-June quarter, from a loss of Rs 62 lakh in the same quarter last year.
Comprehensive income, which includes non-controlling interest, fell 50 percent to Rs 14.6 crore in this quarter from Rs 30.1 crore in the same quarter last year, according to the company's filing on the Bombay Stock Exchange.
The pipes manufacturer recorded a 2.9 percent fall in revenue to Rs 1,511 crore from Rs 1,555 crore on a year-on-year basis.
Production fell 17 percent overall, whereas sale of pipes fell 1 percent on a year-on-year basis, according to the company's press release.
The company's margin on earnings before interest, tax, depreciation and amortisation (EBITDA) fell to 3.4 percent from 4.4 percent on a year on year basis. EBITDA fell by 24.7 percent to Rs 51.9 crore versus Rs 69 core in the corresponding quarter last year.
“Turmoil in the energy markets during the second half of FY16 has impacted Q1FY17 results besides affecting margin profile of the orderbook,” Chairman BK Goenka said.
Shares fell 3.9 percent to Rs 85.7 per share on the BSE.
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