Welspun India, one of the leading textile companies in the world, reported over twofold increase in consolidated net profit at Rs. 174.80 crore for the third quarter ended 31 December 2020.
It is all-time high quarterly revenue of the company.
During the same period of last financial year, the company had consolidated net profit of Rs 75.09 crore.
In a regulatory filing, the company said that its total income during the quarter under review stood at Rs. 2,049.71 crore (rose around 29 per cent) as against Rs 1,604.92 crore in the year-ago period.
“During the quarter under review, its plants at Vapi and Anjar operated at peak capacities,” it said.
The sale of bath linen volume grew by 17 per cent year-on-year, while sales volume of bed linen grew by 43 per cent year-on-year. Sales volume of rugs and carpets grew by 28 per cent year-on-year.
Dipali Goenka, CEO & JMD of the company said in a tweet, “I am delighted to announce our Q3, FY21 results reveal an all-time high quarterly revenue. ‘Never let a crisis go to waste’. With that in mind, Welspun pushed the envelope working harder and creating opportunities. Our efforts bore fruit, and clients and stakeholders applauded us.”
The Board of company in its meeting has revised Advanced Materials Project by deferring project for wet-wipes and bleach-cotton product lines at Kutch District, Gujarat and Rangareddy District, Telangana.
Accordingly, the cost of project to be set up as per revised approval is Rs. 299.60 crore.
The Board may take up project for remaining product lines for discussion at appropriate time.
Source : https://in.apparelresources.com/