Welspun India Q2 net profit up 21 percent to Rs 122 crore
Textiles firm Welspun India saw its net profit jump 21 percent to Rs 122 crore ($16.6 million) for the second quarter ended September, as compared to Rs 100 crore it had reported for the corresponding period of the previous fiscal.
Welspun’s revenue from operations also rose 10 percent to Rs 1,880 crore from Rs 1,607 crore it had posted during the same period of the previous fiscal.
Its total expenses also grew during the fiscal and stood at Rs 1,636 crore as against Rs 1,485 crore, up by 10 percent.
Commenting on the results, B.K. Goenka, chairman of the Welspun Group, in a statement said, “We see an uptick in US retail sales and this is translating into higher volume growth for us. All the basic building blocks for a significant share of B2C business are in place and our retail business is gathering momentum. We continue to pursue our differentiation strategy based on branding, innovation, and sustainability.”
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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