[ad_1]
Welspun India, a global leader in home textiles and part of Welspun Group, posted 83.2 per cent rise in its income to ₹22,272 million during first quarter (Q1) of FY22 against same period of last fiscal. The performance was driven by year-on-year growth in sales volume of bath linen (51 per cent), bed linen (114 per cent), and rugs & carpets (219 per cent).
EBITDA for the quarter ended on June 30, 2021, jumped 93.1 per cent to ₹4,598 million (₹2,381 million), while net profit was ₹2,229.0 crore (₹1,343.4 crore). Moreover, the company’s e-commerce sales improved 45 per cent YoY.
“The prevailing global logistic challenges being a possible impediment, Welspun India is well placed to capture the growth opportunity on the back of strong customer relationships, superior distribution network, thriving global e-commerce channel and brands and digitalisation. Identifying these opportunities well in advance, we have deployed capital in businesses which has helped us to withstand disruptions and will generate strong growth in future,” BK Goenka, chairman at Welspun Group, said in a press release.
Among the two segments, home textile’s revenue during the three-month period surged 79.7 per cent to ₹21,283 million (₹11,846 million), while the flooring segment expanded 378.5 per cent to ₹1,214 million (₹254 million).
“The change in homebody economy consumer behaviour with focus on hygiene and wellness products, revival in hospitality sector due to increased spending on travel and holidays in Euro and US region, and strong global retailers’ financial performance would continue to drive the demand for home textile in FY22,” according to the company's statement.
With an aim to be “Har Ghar Welspun”, the company has increased nationwide footprint to 4,288 outlets and 80 towns with brand Welspun vis-a-vis 3500+ outlets and 66 town and in Q4, the statement noted.
Fibre2Fashion News Desk (JL)
Welspun India, a global leader in home textiles and part of Welspun Group, posted 83.2 per cent rise in its income to ₹22,272 million during first quarter (Q1) of FY22 against same period of last fiscal. The performance was driven by year-on-year growth in sales volume of bath linen (51 per cent), bed linen (114 per cent), and rugs & carpets (219 per cent).
Source link
[ad_2]
source https://earn8online.com/index.php/320106/indian-home-textiles-leader-welspuns-q1-fy22-income-expands-83/
No comments:
Post a Comment