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Welspun India Q2 net profit at Rs 96.6 cr

Press Trust of India  |  New Delhi 

Textile company today reported a profit after minority interest of Rs 96.6 crore in the July-September quarter.

It had reported a loss of Rs 147.5 crore in the corresponding period of the last year.

The total of the company, however, declined to Rs 1,629 crore in the second quarter of current fiscal, from Rs 1,815 crore in the year ago period, said in a filing.

The decrease in was on account of a volume decline due to customer destocking, coupled with the base effect, the company said.

"We have increased our focus on our branding initiatives with new teams across geographies," Welspun Group Chairman B K Goenka said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 08 2017. 21:42 IST