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Welspun India Q3 net jumps 50 pc at Rs 75 cr

Press Trust of India  |  New Delhi 

Home textiles major Welspun India on Wednesday reported a 50 per cent increase in consolidated net profit at Rs 75.09 crore in the third quarter ended on December 31, 2019.

The company had posted a consolidated net profit of Rs 50.08 crore in the same period last fiscal, Welspun India said in a regulatory filing.

Revenue from operations for the said period stood at Rs 1,665.4 crore as against Rs 1,640.33 crore in the year-ago quarter, it added.

The company said while the 'Welspun' brand has become one of the top two players in the value segment in home textiles, its emerging businesses collectively continue to grow by around 30 per cent.

Flooring business reached 50 distributors and 450 dealers pan-India.

Revenue from home textiles segment in December quarter stood at Rs 1,643.67 crore as compared to Rs 1,636.55 crore in the year-ago period.

Flooring business for the quarter under consideration registered a revenue of Rs 21.82 crore as compared to Rs 3.81 crore in the third quarter of 2018-19, it added.

Commenting on the company's performance, Welspun Group Chairman BK Goenka said, "our association with Amitabh Bachchan has not only had a positive impact on our flooring business, but has also catapulted the 'Welspun' brand to the top 2 position in the home textile value segment."

He further said the company continues to build on differentiation strategy based on branding, innovation and sustainability.

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

First Published: Wed, February 12 2020. 15:24 IST