Welspun India Q1 Net Profit Down 90.4% At Rs 21.36 Cr

0, 0

Home textiles major Welspun India Ltd on July 27 reported a decline of 90.41% in its consolidated net profit to Rs 21.36 crore for the June 2022 quarter, mainly on account of high input costs. The company had posted a consolidated net profit of Rs 222.90 crore in the April-June quarter a year ago, Welspun India said in a regulatory filing.

Also Read  Productive, Efficient, Versatile: SMIT’s 2FAST Is A Complete Package

Its revenue from operations slipped 11.61% to Rs 1,957.25 crore during the quarter under review. It was Rs 2,214.49 crore in the year-ago period. Welspun India’s total expenses rose 1.52% to Rs 1,942.68 crore in Q1 FY 2022-23 from Rs 1,913.43 crore.

Also Read  Passion, Hard Work, Smart Work Is The Way To Success

Its revenue from home textiles was Rs 1,852.05 crore and Rs 169.38 crore from the flooring segment. Welspun Group Chairman BK Goenka said, “We have delivered a relatively healthy operating performance in the face of an unusually tough macroeconomic environment characterised by unprecedented high input costs, rising inflation and subdued consumer sentiments”.

Also Read  Credit Outlook For Cotton Spinners Positive Despite Capex: CRISIL


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.