Welspun Corp yesterday late night announced that Ex-OLA group president and CFO G.R. Arun Kumar will be joining welspun world as CFO. He is a vetaran in managing huge business.
G R Arun Kumar was the Ola group's group president and chief financial officer. He was instrumental in the founding of Ola, Within 30 months, Electric will surpass all other EV companies in India in terms of operating roles, project debt raised, and equity funding rounds closed.
Before that, he worked for eight years as Group CFO at Vedanta, a metal, mining, and oil and gas conglomerate. During that time, he successfully oversaw the balance sheet's capital market activity, investor relations, and strategic tax and commodity cycles.
He also held global team-leading positions at GE. He has promoted excellence in the finance function across organizations in the areas of working capital, automation, controls, and process excellence.
Alongside legends in the field, he was a member of the Vedanta Limited board. He has about thirty years of extensive business experience.
Welspun Enterprises reported a profit of Rs 77.35 crore for the fourth quarter of its fiscal year on Tuesday, a 50.3 percent year-over-year decline from the Rs 155.60 crore earned in the same quarter of FY23.
It reported operating revenue of Rs 821.11 crore, a 2.8per cent decrease from Rs 845.08 crore in the same period the previous year. The company's EBITDA increased 17per cent year over year to Rs 111 crore.
Additionally, for the fiscal year 2023–2024, the company board recommended a final dividend of Rs 3 per equity share, with a face value of Rs 10 each, at a rate of 30 per cent on the equity shares.
The company stated in a regulatory filing that "the Dividend will be paid to the shareholders who are holding equity shares of the company on the last day of book closure, which will be July 08, 2024."
