Welspun India's Q2 consolidated net profit up by over 21% to Rs 1.21 bn

Home textiles firm Welspun India on Monday reported a rise of 21.38 per cent in its consolidated net profit for the second quarter (Q2) of 2018-19.

As per the company's regulatory filing to the BSE, the consolidated net profit during the period under review rose to Rs 1.21 billion from Rs 1 billion reported for the corresponding period of the previous financial year.

The company's Q2 revenue from operations increased to Rs 17.79 billion from Rs 16.06 billion earned in the second quarter of previous fiscal.

According to the filing, the company's standalone net profit rose to Rs 596.2 million from Rs 587.1 million reported for the corresponding period of the previous financial year.

"We see an uptick in US retail sales and this is translating into higher volume growth for us. All the basic building blocks for significant share of B2C business are in place and our retail business is gathering momentum," said B.K. Goenka, Chairman, Welspun Group.

"We continue to pursue our differentiation strategy based on branding, innovation and sustainability."