 "Welspun India's Q1 profit up 55% to Rs 163 crore")
Global home textiles company Welspun India's profit after minority and share of associates grew by 55% to Rs 163.2 crore in the first quarter of 2015-16 compared to Rs 105 crore during the corresponding period of the last year.
The revenue surged to Rs 1,388.5 crore against Rs 1,177.3 crore, a rise of 18%.
The company expects to grow at the CAGR of 15-20% and improve its exports especially in the US, UK, Japan, South Africa and Latin America.
Besides, the company will focus on domestic market through its brands Spaces and Welhome.
The company executive director Dipali Goenka said the ongoing initiatives to enhance sales from its brands and innovative products have resulted in better Q1 performance despite volatility in the domestic and global markets.
The revenue surged to Rs 1,388.5 crore against Rs 1,177.3 crore, a rise of 18%.
The company expects to grow at the CAGR of 15-20% and improve its exports especially in the US, UK, Japan, South Africa and Latin America.
Besides, the company will focus on domestic market through its brands Spaces and Welhome.
The company executive director Dipali Goenka said the ongoing initiatives to enhance sales from its brands and innovative products have resulted in better Q1 performance despite volatility in the domestic and global markets.
She informed that company's expansion towards modernization, automation and capacity expansion at Anjar (Rs 1,600 crore) and Vapi (Rs 1,100 crore) in Gujarat is on track and expected over next 12-15 months.
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