Welspun India Q3 FY21 sales jump 28% to ₹2,050 cr

Welspun India, an Indian home textiles company, has reported 27.7 per cent growth in its total income to ₹2,049.7 crore during the third quarter (Q3) FY21 that ended on December 31, 2020, compared to the income of ₹1,604.9 crore in the same quarter previous fiscal. Net profit for the quarter rose to ₹174.8 crore (Q3 FY20: ₹75.0 crore).

 

EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 75.3 per cent to ₹418.7 crore (₹238.9 crore), while total expenses were up to ₹1,800.8 crore (₹1,544.0 crore) in the third quarter.

 

“I am pleased with the all-round performance during the quarter. In tough times, the Welspun family has been at the forefront converting challenges into opportunities and 2020 was no different. We worked harder than ever before and our efforts are being recognised by clients & other stake holders,” BK Goenka, chairman, Welspun Group, said in a press release.

 

Revenue of home textiles segment during Q3 FY21 increased 27 per cent to ₹1,967.2 crore (₹1,549.0 crore). While, flooring segment’s revenue grew to ₹97.7 crore (₹21.8 crore).

 

During the quarter, Welspun’s plants at Vapi and Anjar operated at peak capacities, as release said. Bath linen sales volume grew 17 per cent YoY, whereas, bed linen sales volume grew 43 per cent. Rugs and carpets sales volume jumped 28 per cent.

 

“We continue to pursue our differentiation strategy through branding and innovation, coupled with the thrust on digitalisation and e-commerce initiatives. We are well poised to meet the increasing demand emanating from the structural shift in the global home textile industry,” Goenka said.