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Welspun India’s Q2 net profit down 96% at Rs 8.33 cr due to high input cost

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.

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”.

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