Welspun India, an Indian home textiles company, has reported 27.7 percent growth in its total income to Rs. 2,049.7 cr during the third quarter (Q3) FY21 that ended on December 31, 2020, compared to the income of Rs. 1,604.9 cr in the same quarter previous fiscal. Net profit for the quarter rose to Rs. 174.8 cr (Q3 FY20: Rs. 75.0 cr).
EBITDA (earnings before interest, taxes, depreciation, and amortisation) increased 75.3 per cent to Rs. 418.7 cr (Rs. 238.9 cr), while total expenses were up to Rs. 1,800.8 cr (Rs. 1,544.0 cr) in the third quarter.
“I am pleased with the all-round performance during the quarter. In tough times, the Welspun family has been at the forefront converting challenges into opportunities and 2020 was no different. We worked harder than ever before and our efforts are being recognised by clients & other stake holders,” BK Goenka, chairman, Welspun Group, said in a press release.
Revenue of home textiles segment during Q3 FY21 increased 27 percent to Rs. 1,967.2 cr (Rs. 1,549.0 cr). While, flooring segment’s revenue grew to Rs. 97.7 cr (Rs. 21.8 cr).
During the quarter, Welspun’s plants at Vapi and Anjar operated at peak capacities, as release said. Bath linen sales volume grew 17 percent YoY, whereas, bed linen sales volume grew 43 percent. Rugs and carpets sales volume jumped 28 percent.
“We continue to pursue our differentiation strategy through branding and innovation, coupled with the thrust on digitalisation and e-commerce initiatives. We are well poised to meet the increasing demand emanating from the structural shift in the global home textile industry,” Goenka said.
