Steel pipes and plates maker Welspun Corp on Thursday said it is looking at further growth in sales and numbers in the fourth quarter of this financial year.
“Our orderbook at this point in time stands at 1.65 million tonne for about $2 billion, so that offers us clear visibility of next 3-4 quarters of performance,” said Vipul Mathur, MD and CEO of Welspun.
"If you look at the orderbook, the bid book and the potential bid book that we are pursuing, it is giving us a tremendous amount of comfort in subsequent quarters to come, we should see growth in our company," Mathur said.
Wlespun Corp reported 54.7 percent fall in its net profit at Rs 30 crore for the quarter ended December 31, 2018, compared to Rs 66.4 crore a year-ago period. However, the company's revenue up 15.3 percent at Rs 2,657.8.
On debt repayment front, Mathur said, “Our continuous focus is to reduce debt. In this particular quarter, we have also been able to reduce the debt by Rs 83 crore. We have brought it down from Rs 395 to Rs 312. Therefore, we have a stated aim that we have to continue monitoring and reduce our debt."