Welspun India to focus on e-commerce

Textile firm Welspun India aims to make e-commerce a priority and evolve business to meet the demand of ‘new normal’ and expects its factories to run at between 70 percent and 80 percent capacity this year. The company reported 66 per cent decline in consolidated net profit to Rs 54 crore ($7.3 million) for the quarter ended June, as against a net profit of Rs 156 crore it posted in the year-ago period.

The company’s income for the quarter under review was down 30 percent to Rs 1,216 crore, as against Rs 1,736 crore it reported in the corresponding period of the previous financial year. Welspun India is part of the $2.3 billion Welspun Group and the country’s leading player in the textile industry.