Welspun India reports over 21 pct rise in net profit in Q2 2018-19

Textile firm Welspun India Monday reported a 21.38 per cent increase in consolidated net profit at Rs 121.69 crore for the September quarter.

The company had posted a net profit of Rs 100.25 crore in the July-September quarter a year ago, Welspun India said in a BSE filing.

Its total income during the quarter under review moved up by 10.29 per cent to Rs 1,797.79 crore as against Rs 1,629.93 crore in the corresponding quarter of the previous fiscal.

Its total expenses were at Rs 1,635.70 crore as against Rs 1,484.81 crore, up by 10.16 per cent.

"We see an uptick in the US retail sales and this is translating into higher volume growth for us. All the basic building blocks for a significant share of B2C business are in place and our retail business is gathering momentum. We continue to pursue our differentiation strategy based on branding, innovation and sustainability," Welspun Group Chairman B K Goenka said in a statement.

Shares of Welspun India Monday closed at Rs 59.75 per share on the BSE, down by 5.46 per cent from their previous close.