Welspun Q1 profits up four fold

Welspun’s consolidated net profit rose four-fold for the first quarter on the back of strong sales. The strong growth momentum which started in the second half of the last fiscal year continued in the current fiscal year. Growth has been broad-based, market-leading volume growth supported by an agile business model. During the quarter, the revenue of the home textile segment was up 79.7 per cent from the year-ago period. The flooring segment had revenue of Rs 121 crores as against Rs 25 crores in the corresponding period last fiscal. Consolidated total revenue from operations stood at Rs 2,2149 crores in the first quarter. It was at Rs 1,201 crores in the year-ago period.

The prevailing global logistic challenges being a possible impediment, Welspun India is well placed to capture the growth opportunity on the back of strong customer relationships, a superior distribution network, a thriving global e-commerce channel and brands, and digitalisation. Changes in consumer behavior with a focus on hygiene and wellness products, a revival in the hospitality sector due to increased spending on travel and holidays in Europe and the US, and strong global retailers' financial performance are expected to drive demand for home textiles in the financial year 2021-22.