Welspun India’s Q2 net profit dips 96% at Rs8.33 crore
3 min read . Updated: 08 Nov 2022, 08:25 PM IST
Premium- The company revenue from operations slipped 15.04% to Rs2,113.46 crore during the quarter under review
Welspun India Ltd (WIL), the flagship company of Welspun Group, on Tuesday posted a 95.86 per cent decline in its consolidated net profit to ₹8.33 crore for the second quarter ended September 30.
It had posted a consolidated net profit of ₹201.50 crore in the July-September quarter a year ago, Welspun India said in a regulatory filing.
The company revenue from operations slipped 15.04 per cent to ₹2,113.46 crore during the quarter under review, Welspun India said in a regulatory filing. It was ₹2,487.63 crore in the year-ago period.
Welspun India’s total expenses in the September quarter fell 4.29 per cent to ₹2,122.85 crore.
The company’s revenue from home textiles was ₹2,011.41 crore and ₹159.59 crore from the flooring segment.
Welspun Group Chairman BK Goenka said: “In view of the macro environment that continues to be challenging, the company’s operating and financial performance demonstrates the trust it enjoys among its global customers. This is evident in the growth registered by the company’s brands portfolio and the Domestic Retail business in particular, which delivered a robust 60% growth in H1 FY 23 on the back of an expanding retail footprint that stands at over 10,000 outlets across more than 500 towns and power brands like ‘Welspun’ and ‘SPACES’."
With an aim to be “Har Ghar Welspun", the company has increased nationwide footprint of Brand ‘Welspun’ to 10,000+ outlets and 500+ towns, reinforcing it to be the Number 1 distributed HT brand in India.
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Welspun India Ltd (WIL), part of $2.3 bn Welspun Group, is a global leader in Home textiles. With a distribution network in more than 50 countries and world class manufacturing facilities in India, Welspun is strategic partners with top global retailers. WIL is driven by its differentiation strategy based on Branding, Innovation and Sustainability.
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