Welspun India Q3 net jumps 50 per cent to ₹75 cr

Home textiles major Welspun India on Wednesday reported a 50 per cent increase in consolidated net profit at ₹75.09 crore in the third quarter ended on December 31, 2019.

The company had posted a consolidated net profit of ₹50.08 crore in the same period last fiscal.

Revenue from operations for the period stood at ₹1,665.4 crore as against ₹1,640.33 crore in the year-ago quarter, it added.

The company said while the ‘Welspun’ brand has become one of the top two players in the value segment in home textiles, its emerging businesses collectively continue to grow by around 30 per cent.

Flooring business reached 50 distributors and 450 dealers pan-India.

The company’s revenue from home textiles segment in December quarter stood at ₹1,643.67 crore as compared to ₹1,636.55 crore in the year-ago period.

Flooring business for the quarter registered a revenue of ₹21.82 crore as compared to ₹3.81 crore in the third quarter of 2018-19, it added.

Commenting on the company’s performance, Welspun Group Chairman BK Goenka said, “our association with Amitabh Bachchan has not only had a positive impact on our flooring business, but has also catapulted the ‘Welspun’ brand to the top 2 position in the home textile value segment.”

He further said the company continues to build on differentiation strategy based on branding, innovation and sustainability.