The Hindu Business Line : Welspun Gujarat Q4 net rises to Rs 12.7 cr

WELSPUN Gujarat Stahl Rohren Limited has reported net profit of Rs 12.70 crore for the quarter ended March 31, 2004, over Rs 8.23 crore for the corresponding previous period.

Total income for the same period was Rs 143.55 crore (Rs 92.75 crore). Operating profit (PBIDT) was Rs 28.19 crore (Rs 26.67 crore).

For the year ended March 31, 2004, net profit was Rs 72.31 crore over Rs 1.54 crore in the year ago period.

Total turnover was Rs 836.85 crore (Rs 386.19 crore), while PBIDT was Rs 154 crore (Rs 54.55 crore).

Commenting on the results, Mr B. K. Goenka, Vice-Chairman and Managing Director, Welspun Gujarat Stahl Rohren Ltd, said: "We have witnessed a stupendous growth in 2003-04. Fiscal prudence and organisational efficiencies are the significant contributors to the year's success. Also significant was the company's transition from a young organisation to a fully matured pipe manufacturing company."

He further added: "There is a huge market potential within India and abroad and we are taking full advantage of this opportunity. To cater to this huge demand the company is embarking on an expansion project by setting up a new plant at Anjar, Kutch District, Gujarat. With this we aim to achieve the Rs 2,000 crore-mark in the next three years.