Welspun India Q2 net up 21.4%

Textile firm Welspun India reported a 21.38 per cent increase in consolidated net profit at Rs 121.69 crore for the September quarter. The company had posted a net profit of Rs 100.25 crore in the July-September quarter a year ago.

Its total income during the quarter under review moved up by 10.29 per cent to Rs 1,797.79 crore as against Rs 1,629.93 crore in the corresponding quarter of the previous fiscal. Its total expenses were at Rs 1,635.70 crore as against Rs 1,484.81 crore, up by 10.16 per cent.

“We see an uptick in the US retail sales and this is translating into higher volume growth for us. All the basic building blocks for 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 Group Chairman BK Goenka said.