Welspun India Q4 net up 20% Rs 193.29 cr

Textiles firm Welspun India today reported 19.77 per cent increase in consolidated net profit to Rs 193.29 crore for the fourth quarter ended on March 31, 2015-16.
The firm had reported a consolidated net profit of Rs 161.38 crore for January-March quarter of 2014-15.
Net sales of the company also increased by 19.14 per cent to Rs 1,459.47 crore during the quarter under review as against Rs 1,224.96 crore of the same period previous fiscal.
"In the coming year, our focus will be on increasing revenue from the domestic market and profitability through branded and innovative products," Welspun Group Chairman B K Goenka said.

Welspun said for the current fiscal, capital expenditure planned is Rs 800 crore.
"This includes the remaining part of the modernisation project and capacity enhancement in towels, sheets and rugs & carpets. By the end of the year, annual capacity is expected to reach 72,000 MT in Towels, 90 million metres in Bed Linen and 10 million sq metres in Rugs & Carpets," it added.

In the financial year ended March 31, 2016, Welspun's consolidated net profit grew to Rs 702.87 crore as against Rs 539.79 crore of the previous fiscal year.
For financial year 2015-2016, the company reported net sales of Rs 5,387.66 crore, as against of Rs 4,722.9 crore in year 2014-15.

The company's board has recommended a final dividend of Rs 0.05 per share.
Welspun India stock was trading at Rs 99.70 on BSE, up 0.20 per cent from previous close.