Welspun Corp Q1 net benefit falls 54% to Rs 54 crore.

Welspun Corp Q1 net benefit falls 54% to Rs 54 crore.

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The organization had posted a net benefit of Rs 118.63 crore during a similar quarter a year prior, Welspun Corp said in a BSE recording.

Welspun Corp on Tuesday revealed a 54.54 per cent declined in united net benefit at Rs 53.92 crore during the quarter finished June 30, 2020, under fall in salary.

The organization had posted a net benefit of Rs 118.63 crore during a similar quarter a year back, Welspun Corp said in a BSE recording.

Absolute salary fell imperceptibly to Rs 2,085.42 crore during April-June as contrasted and Rs 2,088.87 crore in the year-prior period.

The company’s total costs rose to Rs 1,970.16 crore during the quarter under audit from Rs 1,941.23 crore a year back.

“This quarter was a difficult one, affected by high unpredictability in oil costs and ending of monetary action. The across the country lockdown has brought about a few difficulties for the business. Welspun Corp is making all the important strides required to confront this troublesome condition,” Welspun Group Chairman B K Goenka said in an announcement.

The organization said its tasks and auxiliaries were affected by coronavirus pandemic-incited lockdown towards the finish of January-March quarter because of shutdown all things considered and workplaces.

The organization and its auxiliaries later continued tasks in a staged way according to government rules, and are working as per wellbeing and security rules gave by individual government specialists.

Welspun Corp is a significant welded line pipe producer.

news source: moneycontrol


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