Welspun doubles profits
Announces Q1 results.August 10, 2012 | comments ( 0 ) |
Welspun India Ltd, (WIL) a part of the $ 3.5 billion Welspun Group announced its results Q1 FY13. It has witnessed significant growth in Y-o-Y revenue contributed by increase in sales volumes of Terry Towels, Sheets and Rugs and accompanied by better realizations. The operational EBITDA jumps to Rs 1,241 million Y-o-Y basis and operating margins grow to 17 per cent benefiting further from raw material prices. Their profit after tax has more than doubled to Rs 377 million.
Speaking about the performance, Rajesh Mandawewala, Managing Director, Welspun India Ltd, said, “Consolidation of our operations and optimisation of resources has enabled us to deliver superior performance despite a troubled global economy. The large scale of our operations and constant innovations in products has helped us steer through difficult periods and this will help us to grab a bigger share of the market in the coming months.”
Environment for growth of the textile industry looks promising despite the problems that continue to affect the global economy, and the company is strategically well placed to take advantage of that. Boosted by specific programmes for the European and US markets, the industry is now preparing itself to take a share of the opportunities that have arisen. With rupee depreciation, the potential for exports has improved, and further impetus from the government policies, the industry can benefit.
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