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Welspun India shares locked in upper circuit after good Q4 earnings –

Revenue from operations for the quarter rose 3.9 percent year-on-year to Rs 1,617.3 crore.

Shares of Welspun India were locked in 5 percent upper circuit after reporting good numbers for the March quarter.

The textile company has reported a consolidated profit at Rs 85.6 crore in the quarter ended March 2020 against a loss of Rs 79.3 crore in the year-ago period.

The company had reported a one-time loss of Rs 224 crore in Q4FY19.

The profit before exceptional item stood at Rs 110 crore for the quarter, an increase of 16.3 percent over Rs 94.6 crore in the same period last year.

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Revenue from operations rose 3.9 percent year-on-year to Rs 1,617.3 crore.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 19.4 percent year-on-year to Rs 249.1 crore, while margin expanded to 15.4 percent in Q4FY20, up 200 basis points over 13.4 percent in Q4FY19.

The stock, which has rallied 92 percent in the last three months, was trading at Rs 37.90, up 4.99 percent, on the BSE at 1509 hours.

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First Published on Jun 29, 2020 03:28 pm