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Indian home textiles group Welspun achieves highest quarterly revenues

01
Nov '21

Pic: Welspun/ Christy

Welspun India, a global leader in home textiles and part of Welspun Group, has posted a 25.5 per cent revenue growth to ₹25,014 million in the second quarter (Q2) of FY22, ended on September 30, 2021, over the revenue of ₹19,926 million in the same period of last fiscal. The company’s profit for the period rose to ₹2,015 million (Q2 FY21: ₹1,879 million).

Bath linen sales volume in the three-month grew by 16 per cent, followed by bed linen sales volumes which surged 4 per cent, and rugs and carpets sales volume advanced 29 per cent over the second quarter of 2020, according to the company.

“Our markets like US and UK have been showing strong consumer spending. In India, economy is coming out of pandemic led slowdown with strong demand supported by monetary policies and fiscal stimulus from government,” BK Goenka, chairman at Welspun Group, said in a press release.

“In this backdrop, Welspun delivered a strong second quarter, achieving highest revenues, growing in double digits and stepping up profitability sequentially. Large parts of our business continued to gain market share and penetration,” Goenka continued.

During the quarter, EBITDA went up 5 per cent to ₹4,237 million (₹4,048 million), while total expenses stood at ₹22,180 million (₹17,388 crore).

By segment, sales from home textiles increased by 23 per cent to ₹23,749 million (₹19,242 million). Flooring segment sales doubled with 107 per cent sales hike to ₹1,596 million (₹772 crore).

“The continued challenges in the form of high input costs, increasing energy prices and global logistic issues need to be navigated cautiously. At Welspun India, we are well placed to capture the growth opportunity with innovative product offerings, judicious capital deployment and optimum utilisation of our distribution network,” Goenka said.

Fibre2Fashion News Desk (JL)

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