Welspun Specialty Solutions Limited reported earnings results for the second quarter and six months ended September 30, 2024. For the second quarter, the company reported sales was INR 1,674.2 million compared to INR 2,078.2 million a year ago. Revenue was INR 1,729.8 million compared to INR 2,135.3 million a year ago. Net loss was INR 63.5 million compared to net income of INR 52 million a year ago. Basic loss per share from continuing operations was INR 0.12 compared to basic earnings per share from continuing operations of INR 0.1 a year ago. Diluted loss per share from continuing operations was INR 0.12 compared to diluted earnings per share from continuing operations of INR 0.1 a year ago.
For the six months, sales was INR 3,295.2 million compared to INR 3,706.5 million a year ago. Revenue was INR 3,410.1 million compared to INR 3,798.2 million a year ago. Net loss was INR 44 million compared to net income of INR 163.4 million a year ago. Basic loss per share from continuing operations was INR 0.08 compared to basic earnings per share from continuing operations of INR 0.31 a year ago. Diluted loss per share from continuing operations was INR 0.08 compared to diluted earnings per share from continuing operations of INR 0.31 a year ago.
Welspun Specialty Solutions Limited is an India-based company, which is engaged in the business of manufacturing of alloy and stainless-steel products. It is a multi-product manufacturer of billet, rolled bar, black bar, ingot, bloom and seamless pipe and tubes. The Company operates through manufacturing and sale of steel and steel products segment. Its steel grades consist of alloy steel, which includes bearing steel, micro alloyed steel, creep resistant steel, chrome-moly steel, boron steel, case carburizing steel, tool and die steel and high nickel steel, and stainless and Ni-alloy steel, which includes ferritic stainless steel, austenitic stainless steel, martensitic stainless steel, precipitation hardening, duplex and super duplex stainless steel and nickel alloy/super alloy. It has a steelmaking capacity of approximately 150,000 metric tons per annum and stainless-steel seamless pipe & tube manufacturing capacity of approximately 18,000 tons per annum.
