India's Welspun Enterprises slides on Q3 profit decline

Welspun Enterprises

04/02/2025 05:19

** Shares of Welspun Enterprises  WELS.NS  fall 6.1% to
564.5 rupees
    ** Stock heads for biggest daily pct decline in over three
months 
    ** The infrastructure developer's Q3 consol profit fell 3.6%
to 770.5 mln rupees ($8.9 mln)
    ** Co's rev rose 22.7% to 8.67 bln rupees while expense
jumped ~30% to 8.02 bln rupees     
    ** WELS moved below its 50-day and 100-day simple moving
avgs after the results    
    ** More than 1.6 mln shares traded, 4.4x its 30-day moving
avg
    ** Stock sees most active day in over eight months
    ** WELS rose 88.3% in 2024, gaining for fifth straight year

($1 = 87.0275 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))