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Hot Pursuit News

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(04 Nov 2024, 09:57)

Welspun Corp bags orders for supplying HSAW pipes to gas project in USA

Welspun Corp said that it has received two large orders in the USA, cumulatively valued at approximately Rs 1300 crore for supply of coated HSAW pipes for natural gas pipeline projects.


The aforementioned order would be executed in FY26.

"This win further reinforces our leading position in the USA O&G market. Our outlook for the USA market remains extremely positive. We have also participated in few more projects and are favourably placed in additional 1-2 large projects,” the company said in a statement.

Welspun Corp is primarily engaged in business of manufacture and distribution of steel and steel products.

The company's consolidated net profit jumped 50.06% to Rs 248.18 crore despite a 22.90% fall in sales to Rs 3,137.23 crore in Q1 FY25 over Q1 FY24.

The scrip declined 1% to currently trade at Rs 725.25 on the BSE.

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