Welspun India Q1 net profit rises multi-fold to Rs 162 crore

Home textiles major Welspun India Ltd reported a consolidated net profit of Rs 163 crore ($19.8 million) for the first quarter ended June 30, as against Rs 21 crore in the year-ago period.

The company’s revenue for the quarter rose by 12 percent to Rs 2,184 crore, as against Rs 1,957 crore posted in the corresponding period of the previous fiscal year.

Welspun India’s total expenses during the April-June quarter rose by 3 percent to Rs 1,998 crore.

Commenting on the results, BK Goenka, chairman of Welspun Group in a statement said, “The company continues to deliver strong performance in Q1FY24 with sequentially higher margins. All our emerging businesses, which are our pillars of growth, have shown promising results during the quarter.”

“The domestic consumer business further strengthened its market leadership, with Welspun being the most widely distributed home textile brand in India,” he added.

Welspun India Ltd is part of the Welspun Group with a distribution network in more than 50 countries and manufacturing facilities in India.