Welspun Enterprises Ltd (WEL) on Thursday posted a 48% decline in its consolidated net profit to ₹69.01 crore during the September quarter, dragged by increased expenses. It had clocked ₹132.98 crore net profit during the July-September period of preceding 2022-23 fiscal, the company said in a regulatory filing.

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The company’s total income rose to ₹692.65 crore over ₹552.92 crore in the year-ago quarter. Its expenses also increased to ₹595.61 crore from ₹512.29 crore a year ago.

The company’s order book stands at ₹9,100 crore in segments like water and wastewater management and roads. "We are well-positioned with a diverse order book encompassing both the road and water sectors. Additionally, our recent acquisition of Michigan Engineers brings with it an unexecuted order book of approximately ₹1,600 crore, bolstering our optimism regarding our future performance. Our sustained efforts to enhance operational efficiencies instil confidence in our ability to sustain revenue growth and improve our margin profile," WEL Managing Director Sandeep Garg said.

WEL maintains a bullish outlook on order inflows for the financial year, largely attributable to the government’s continued emphasis on enhancing and advancing the country’s infrastructure, he said. Welspun Enterprises Ltd (WEL), part of Welspun World, is an infrastructure development company focusing on road, water and wastewater segments. The company also has investments in oil and gas exploration.