Mumbai, July 21 (UNI) Global pipe supplier, Welspun Gujarat, has posted Profit After Tax (PAT) of Rs 71.1 crore for the first quarter of the fiscal year, reflecting a growth of three per cent, against Rs 69.3 crores for the corresponding period last year.
According to a press release, sales of the company increased by 34 per cent to Rs 1,096.7 crores for the FY 09 Q1, against Rs 817.3 crores for the corresponding period in the previous fiscal. The total export supplies of the company crossed 70 per cent.
The Company also registered a 23 per cent increase in cash profit, from Rs 81 crore to Rs 100 crore. Highlight of the quarter for the company was an order worth USD 545 million from a US firm, which took its order book position to over Rs 7,200 crore.
On the exdpenditure front, the company spent Rs 14.2 crore under one-time extraordinary expense for export duty and ship demurrage charges.
Vice Chairman and Managing Director, Welspun, Mr B K Goenka said, ''We take pride to be able to deliver more than what we have promised to our stakeholders with each passing quarter.'' UNI ZC ZA SKB1732