Welspun India Q1 net profit jumps to Rs 223 crore
Home textiles major Welspun India Ltd witnessed a four-fold jump in consolidated net profit to Rs 223 crore ($30 million) in the first quarter ended June 30, as against a net profit of Rs 54 crore it had reported in the year-ago period.
The company’s revenue for the quarter rose to Rs 2,214 crore, as against Rs 1,202 crore it had reported in the corresponding period of the previous fiscal year.
Commenting on the performance, Welspun Group chairman, BK Goenka, said: "The strong growth momentum which started in H2 of last full year continued in the current fiscal year also. The growth has been broad-based, market-leading volume growth supported by our agile business model.”
On the outlook, Goenka said: "The prevailing global logistic challenges being a possible impediment, Welspun India is well placed to capture the growth opportunity on the back of strong customer relationships, superior distribution network, thriving global e-commerce channel and brands, and digitalisation."
Welspun India is part of the USD 2.3 billion Welspun Group and is the country’s leading player in the textile industry.
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