India’s Welspun Corp, a manufacturer of specialty steel tubes, achieved a consolidated net profit of INR 6.74 billion ($77.10 million) in the third quarter (October-December) of the fiscal year 2024-25, double year on year, according to a company statement on Thursday, February 6.
The company reported total revenues from operations at INR 36.13 billion ($412.97 million) during the quarter, up 23.9 percent year on year.
Welspun Corp's board has approved the sale of 1,900 equity shares, representing a 19 percent stake in Welassure Private Limited, to Rakshak Securitas Private Limited, a non-related party.
Additionally, the board has sanctioned an investment of up to INR 2,500 million ($28.58 million) in its subsidiary, Welspun Specialty Solutions Limited (WSSL).