Welspun Living gains as arm acquires Christy Home

Welspun Living added 2.47% to Rs 182.35 after its subsidiary, Welspun USA Inc has approved acquisition and investment of $300,000 in, a newly incorporated company, Christy Home Inc on 17 September 2024.

Welspun incorporated Christy Home with equity share capital of $300,000 consisting of 300 ordinary shares of $1,000 each. The company said that it will carry on the business of trading in home textiles products of Christy brand in USA.

Welspun India is a leading manufacturer of wide range of home textile products, mainly terry towels, bed linen products and rugs.

The company reported 14.8% rise in consolidated net profit to Rs 185.51 crore on 16.1% increase in revenue from operations to Rs 2,536.49 crore in Q1 FY25 over Q1 FY24.

 

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