Shares of Welspun Enterprises corrected over 6 percent in early trade on Thursday after the company reported a weak set of numbers for the fourth quarter of fiscal 2021.
Welspun’s consolidated net profit fell 54 percent to Rs 40.94 crore during the quarter ended March 31. The company had clocked a consolidated net profit of Rs 89.08 crore in the corresponding quarter a year ago.
Its consolidated total income during Q4FY21 increased to Rs 600.97 crore from Rs 515.70 crore in the year-ago period.
Total expenses during the quarter also increased to Rs 535 crore, from Rs 434 crore a year ago.
Additionally, the company also approved the appointment of Anoop Kumar Mittal as Non-Executive, Independent Director and Dipali Goenka as Non-Executive, Non-Independent Director.
At 10:45 am, shares of Welspun Enterprises were trading 3.06 percent lower at Rs 114.20 apiece on the BSE.