Published
Nov 3, 2020
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Welspun India Q2 net profit down 7 percent to Rs 188 crore

Published
Nov 3, 2020

Welspun India’s net profit for the September quarter was down 7 percent at Rs 188 crore ($25.3 million), as against Rs 203 crore in the same period last year.
 

Welspun India Q2 net profit down 7 percent to Rs 188 crore - My Welspun Home- Facebook


The company’s revenue for the quarter was up 8 percent to Rs 1,993 crore, as against Rs 1,837 crore it reported in the corresponding period last fiscal.
 
Welspun’s overall expenses for the quarter were up 10 percent at Rs 1,739 crore, as against Rs 1,582 crore it reported last year.

“During the quarter, the company fully recovered from the impact of the Covid-19-induced lockdown and the plants worked at full capacity. Consumers are still reluctant to resume their normal ‘out-of-home’ activities and are spending more time at home which is driving the overall demand for home textile products,” BK Goenka, chairman at Welspun Group, said in a statement.
 
“The company has delivered strong profitability, led by global recovery and easing of lockdown restrictions. The company expects the licensed brand and e-commerce business to clock revenue of $100 million each over the next two-three years,” he added.
 
Welspun India is part of the USD 2.3 billion Welspun Group and the country’s leading player in the textile industry.

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