Indian textile major Welspun India has reported 21.3 per cent increase in consolidated profit to Rs. 174.08 crore for the third quarter ended December 31. The company had posted a net profit of Rs. 143.57 crore in October-December period a year-ago, Welspun India mentioned in a BSE filing.
As per the press release, domestic retail sales continue to witness robust growth and YTD growth stands at 52%. Operating EBITDA zoomed by 17.8% at Rs. 4,006 million vs. Rs. 3,400 million in Q3 FY15. Operating EBITDA margin increased 161 bps at 26.9% (vs. 25.3% in Q3 FY15), mainly on account of higher share of innovative and branded products. Net worth stands at Rs. 18,332 million as on 31st December 2015 (against Rs. 14,318 million).
Also Read – Welspun India notes 18% surge sales in Q1 of current FY
In the period under review, net sales of the company on a consolidated basis were up 12.19 per cent at Rs. 1,343.15 crore compared with Rs. 1,197.13 crore of the corresponding period of the last fiscal.
Welspun India Ltd, part of US $ 3 billion Welspun Group, is among the top 3 home textile companies in the World. With a distribution network in more than 50 countries and world class manufacturing facilities in India, it is the largest exporter of home textile products from India. Supplier to 14 of Top 30 global retailers, the Company has marquee clients like Bed Bath & Beyond, Costco, Kohl’s, Target, Walmart and Macy’s to name a few.
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