Welspun India Q1 net profit soars over two-fold

NEW DELHI: Textile firm Welspun India today reported an over two-fold increase in consolidated net profit for the quarter ended June 30 at Rs 37.70 crore.

The company had posted a net profit of Rs 18.16 crore in the corresponding quarter last year, Welspun India said in a filing to the BSE.

The net income during the first quarter also went up by 36.59 per cent to Rs 748.71 crore from Rs 548.15 crore in the year-ago period, it added.

Shares of Welspun India today closed 0.09 per cent down at Rs 54 apiece on the BSE.

Another group firm, Welspun Global Brands had yesterday reported a consolidated profit after tax of Rs 10.5 crore in the first quarter compared to Rs 70 lakh in the same period last year.

Consolidated sales of the firm stood at Rs 910 crore as against Rs 625.9 crore in the year-ago period.