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Welspun Corp's Consolidated Profit Slumps in Fiscal Q4; Shares Fall 4%

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Welspun Corp (NSE:WELCORP, BOM:532144) consolidated attributable net profit declined to 3.70 billion rupees in the fiscal fourth quarter ended March 31 from 6.98 billion rupees a year ago, according to a filing to the Indian stock exchanges on Thursday.

Shares of the pipes manufacturer fell over 4% in Friday's trade.

Earnings per share contracted to 14.04 rupees from 26.50 rupees a year earlier.

Revenue from operations in fiscal Q4 increased to 43.1 billion rupees from 39.2 billion rupees a year ago.

The company's board of directors recommended a final dividend of 5 rupees per share for the financial year ended March 31.

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