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Welspun India's Q3 net up 31% in Q3

Revenues increased 22% to Rs 1,103 cr

BS Reporter  |  Mumbai 

Welspun India, posted a of Rs 143.6 crore in the December quarter compared to 109.5 crore in the same quarter last year, an increase of 31%. during the quarter stood at Rs 1,345.9 crores compared to Rs 1,102.9 crore last year translating into a growth of 22%.

Raw material costs have declined during the quarter to Rs 548.23 crore this year compared to Rs 556.3 crore in the corresponding quarter last year. Cotton prices have been on a decline due to a glut of the commodity on the domestic as well as international markets. Depreciation during the quarter was 83% to Rs 91 crore compared to 50 crore last year.

During the quarter, the company started the country's largest spinning facility in Anjar. Out of a total investment plan of Rs 2,500 crore, 50% has been invested and the rest will be invested over a period of 18-24 months.

First Published: Thu, January 29 2015. 20:37 IST