Welspun Living's Profits Plunge Amid Global Tariff Turbulence

Welspun Living Ltd reported a sharp 93% decline in net profits for Q2 due to global tariff issues impacting exports. The company's revenue dropped significantly, especially in textiles and flooring. Despite challenges, the group remains optimistic about future growth, bolstered by India's macro trends and trade agreements.

In a challenging fiscal quarter, Welspun Living Ltd experienced a dramatic 93% fall in net profit for the second quarter, ending September 30, tallying up to Rs 14.86 crore amidst turbulent global tariff conditions.

This decline was stark compared to the Rs 202.4 crore net profit diagnosed in the same period last year. The textile giant's consolidated revenue also saw a decrease, landing at Rs 2,440.91 crore as opposed to Rs 2,873.09 crore from a year ago.

Amid these financial tremors, Chairman BK Goenka maintains confidence, citing India's burgeoning macro environment and strategic progress in trade agreements as potential levers for recovery. The company concurrently disclosed executive changes set for the new fiscal year.

(With inputs from agencies.)