Companies

Welspun net up multi-fold on strong sales

Our Bureau Mumbai | Updated on July 28, 2021

Income increased 83 per cent to ₹2,227 crore

Welspun India, a home textiles company, has reported that its net profit in the June quarter was up over four times at ₹217 crore against ₹49 crore logged in the same period last year, on better demand and higher realisation.

Income increased 83 per cent to ₹2,227 crore (₹1,216 crore) while Ebitda nearly doubled to ₹460 crore (₹238 crore).

Net debt decreased to ₹2,249 crore against ₹2,333 crore logged in the March quarter.

Excluding flooring business, net debt stood at ₹1,484 crore against ₹1,621 crore in March, with a reduction of ₹138 crore.

BK Goenka, Chairman, Welspun Group, said the strong growth momentum which started in the second half of last fiscal continued in the current fiscal year and the company delivered a good growth volume.

“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 networks, a global e-commerce channel and digitalisation,” he said.

Published on July 28, 2021

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