Latest News | Welspun India's Q2 Net Profit Down 96 Pc at Rs 8.33 Cr
Get latest articles and stories on Latest News at LatestLY. Home textiles major Welspun India Ltd on Tuesday reported a 95.86 per cent decline in its consolidated net profit to Rs 8.33 crore for the second quarter ended September 30, mainly due to high input costs.
New Delhi, Nov 8 (PTI) Home textiles major Welspun India Ltd on Tuesday reported a 95.86 per cent decline in its consolidated net profit to Rs 8.33 crore for the second quarter ended September 30, mainly due to high input costs.
It had posted a consolidated net profit of Rs 201.50 crore in the July-September quarter a year ago, Welspun India said in a regulatory filing.
Its revenue from operations slipped 15.04 per cent to Rs 2,113.46 crore during the quarter under review. It was Rs 2,487.63 crore in the year-ago period.
The company's total expenses in the September quarter fell 4.29 per cent to Rs 2,122.85 crore.
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Its revenue from home textiles was Rs 2,011.41 crore and Rs 159.59 crore from the flooring segment.
Welspun Group Chairman BK Goenka said: "In view of the macro environment that continues to be challenging, the Company's operating and financial performance demonstrates the trust it enjoys among its global customers. This is evident in the growth registered by the company's brands portfolio and the Domestic Retail business in particular".
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)