Steel pipe manufacturer Welspun-Gujarat Stahl Rohren has received an order worth Rs 1.20 billion from a European customer, to supply ERW line pipes in Southern Europe

The novel order takes Welspun’s total order book position to Rs 46.59 billion.

Group president Akhil Jindal stated that the deliveries of the small-diameter pipes will begin in July.

The company has recorded a 2.36 times growth in its net profit to Rs 974.00 million for the quarter ended December 2007 as against Rs 412.00 million in the corresponding period of 2006.

In early trading (11:00 am), shares of the company are trading at Rs 489.25, up 4.8%.