WELSPUN CORP Announces Quarterly Results (2QFY20); Net Profit Up 116.4%

Fri, 25 Oct

WELSPUN CORP has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

WELSPUN CORP Quarterly Financials

Year-on-Year Performance:

• The company's operating income during the quarter fell 3.9% on a year-on-year (YoY) basis. The expenses were down by 10.5% YoY during the same period.
• The company's operating profit increased by 141.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.9% in 2QFY20 as against 5.1% in 2QFY19.
• Depreciation charges declined by 36.1% and finance costs declined by 32.8% YoY, respectively.
• Other income declined by 54.5% YoY during the quarter.
• Net profit for the quarter increased by 116.4% YoY. Net profit margins during the quarter increased from 2.3% in 2QFY19 to 5.2% in 2QFY20.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 10.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.7% QoQ during the same period.
• The company's operating profit increased by 46.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.9% in 2QFY20 as against 9.8% in 1QFY19.
• Net profit for the quarter increased by 10.6% QoQ, while net profit margins increased from 5.2% in 1QFY19 to 5.2% in 2QFY20.

To see how WELSPUN CORP has performed over the last eight quarters,please visit here.

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WELSPUN CORP Share Price Performance

Over the last one year,WELSPUN CORP share price has moved up from Rs 120.1 to Rs 143.0, registering a Gain of Rs 22.9 or around 19.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,313.4 (down 0.2%). Over the last one year it has moved up from 16,441.0 to 18,313.4, a gain of 1,872 points (up 11.4%).

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 143.0, the price to earnings (P/E) ratio of WELSPUN CORP stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.