Indian textiles firm Welspun Living reported a 16 percent rise in consolidated net profit to Rs 146 crore ($17.5 million) for the fourth quarter ended March 31, as against Rs 125 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 19 percent to Rs 2,617 crore, as against Rs 2,195 crore in the corresponding quarter of the previous year.
For the financial year 2024, the company’s total income stood at Rs 9,825 while its net profit for the year was Rs 681 crore.
Commenting on the results, Dipali Goenka, managing director CEO of Welspun Living Limited in a statement said, “The company has achieved its highest ever quarterly and yearly revenues in Q4 and FY24, with a massive growth of 19% in the quarter & 20% yearly with sustainable EBITDA of 15.4% for FY24, growing by 73% over last year.”
“Our domestic retail business has shown resilience in the face of subdued retail market sentiments during the year. Brand ‘Welspun’ strengthened its leadership position in the country with presence in over 600 towns and 20,000 plus stores achieving highest ever revenues in FY24,” she added.
Welspun Living is a textile major with a strong presence in the home textiles segment, which includes bed sheets, bath linen and curtains under its private labels.
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