Welspun Q1 net up 55% at Rs 163 cr; plans Rs 1,100 cr capex

Home textiles firm Welspun India, part of the USD 3 billion Welspun Group, today reported a 55.42 per cent jump in its consolidated net profit at Rs 163.15 crore for the first quarter of 2015-16.
The company had reported a net profit of Rs 104.97 crore in the corresponding period of the last fiscal, Welspun India said in a BSE filing.
Its net sales during the quarter under review stood at Rs 1,248.12 crore, up 19.63 per cent as compared to Rs 1,043.26 crore in the same period last year, it added.
The company said that its capital expenditure plan is as per schedule and it plans to invest around Rs 1,100 crore over the next 12 to 15 months.

"This capex will entail modernisation, automation and capacity enhancement for towels and sheets as well as routine maintenance at Anjar and Vapi, Gujarat," the company said.
Welspun Group Chairman BK Goenka said, "Our ongoing initiatives with respect to own brands as well as innovative products have resulted in another strong quarter of operational and financial performance."
Welspun India shares today closed at Rs 773.40 apiece on BSE, down 0.14 per cent from its previous close.