Welspun Living Ltd Achieves Record Q2 Profit and Revenue
Welspun Living Ltd, a major player in the home textiles industry, announced a significant surge in consolidated net profit, reaching Rs 200.41 crore for the quarter ending September. This marks a substantial increase from the Rs 8.33 crore net profit reported during the same period in the previous year, as per a regulatory filing by Welspun Living, previously known as Welspun India.
The company’s revenue from operations also demonstrated a notable increase of 18.71 per cent, amounting to Rs 2,509.08 crore in the second quarter of the current fiscal year, compared to Rs 2,113.46 crore in the corresponding period of the previous year. This achievement represents the highest quarterly revenue ever reported by the company, which is part of the Welspun Group, a renowned enterprise with a total value of USD 3 billion.
Welspun Group Chairman Balkrishan Goenka expressed his satisfaction with this achievement, stating, “It is a proud moment for the company to have reported the highest-ever consolidated quarterly revenues in Q2FY24 with consistent profitability in the last few quarters, in the face of the relatively adverse global economic situation and subdued consumer sentiments.”
The total income of the company also experienced a significant growth, rising by 19 per cent to Rs 2,542.37 crore.