Welspun India Q2 net up 66.5 pc at Rs 202.6 cr

Home textiles major Welspun India on Tuesday reported a 66.5 per cent jump in consolidated net profit at Rs 202.6 crore for the quarter ended September 30.

The company had posted a consolidated net profit of Rs 121.69 crore in the same quarter last fiscal, Welspun India said in a regulatory filing.

Revenue from operations during the second quarter stood at Rs 1,824.92 crore as compared with Rs 1,779.94 crore in the year-ago period, up 2.53 per cent, it added.

The company has started flooring business under Welspun Flooring (WFL) from September 13, 2019, it said.

The overall capex on the new business till date is around Rs 810 crore and 42 distributors and around 450 dealers have been appointed so far pan-India, it said.

"Our emerging businesses are gaining traction. We are excited about our recently commissioned flooring solutions plant, which could provide tremendous growth opportunities in the domestic market as well as the export market," Welspun Group Chairman BK Goenka said.

The company said it continues to calibrate capex according to cashflows. In the first half (April-September) of the fiscal, its capex was approximately Rs 460 crore. For 2019-20, the total capex is expected to be Rs 600 crore, it added.