Shares of Welspun Enterprises corrected over 6 percent in early trade on Thursday after the company reported a weak set of numbers for the fourth quarter of fiscal 2021.

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Welspun’s consolidated net profit fell 54 percent to Rs 40.94 crore during the quarter ended March 31. The company had clocked a consolidated net profit of Rs 89.08 crore in the corresponding quarter a year ago.

Its consolidated total income during Q4FY21 increased to Rs 600.97 crore from Rs 515.70 crore in the year-ago period.

Total expenses during the quarter also increased to Rs 535 crore, from Rs 434 crore a year ago.

Additionally, the company also approved the appointment of Anoop Kumar Mittal as Non-Executive, Independent Director and Dipali Goenka as Non-Executive, Non-Independent Director.

At 10:45 am, shares of Welspun Enterprises were trading 3.06 percent lower at Rs 114.20 apiece on the BSE.

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