Welspun India's first-quarter net profit more than quadruples to Rs 223 crore

Welspun India Ltd reported a more than fourfold increase in consolidated net profit to Rs 222.9 crore in the first quarter ended June 30 on the strength of robust sales. Welspun India reported a consolidated net profit of Rs 53.75 crore in the same quarter previous fiscal year, according to a regulatory filing.

Welspun Group's revenue from operations stood at Rs 2,214.49 crore in the first quarter of the year-ago period. The company said the home textile segment clocked revenue of Rs crore as against Rs crore in the same period last year. Welspun is one of India's largest private sector companies with a turnover of over Rs crore in.

Welspun India's flooring segment had a revenue of Rs 121.4 crore as against Rs 25.4 in the corresponding period last fiscal. The company said the change in homebody economy consumer behaviour with a focus on hygiene and wellness products, revival in the hospitality sector would continue to drive the demand for home textile in the financial year 2021-22.