Welspun India Q1 net up 10% at Rs 201.85 crore

However, shares of the company closed 8.67% lower at Rs 99.00 apiece on BSE

Welspun India reported on Tuesaday, a 10.295 rise in consolidated net profit at Rs 201.85 crore for the first quarter ended June 30, 2016.

The company had reported a net profit of Rs 183.01 crore in the corresponding period of last financial year.

Net sales of the company went up by 11.30% to Rs 1,386.46 crore for the reported quarter as compared to Rs 1,245.6 crore in the same period last year, Welspun India said in a BSE filing.

For financial year 2016-17, the capital expenditure planned is Rs 800 crore, the company said.

"Out of this, Rs 140 crore of capex has been invested during the quarter," it added.

By the end of the year, annual capacity is expected to reach 72,000 Mt in towels (from 60,000 Mt at end of last financial), 90 million metres in bed linen (from 72 million metres at end of last financial year) and 10 million sq metres in rugs & carpets (from 8 million sq metres at end of last financial year).

Welspun India shares closed 8.67% lower at Rs 99.00 apiece on BSE.