Welspun India Q3 net profit at Rs 52 crore

NEW DELHI: Textile firm Welspun India today reported a net profit of Rs 51.6 crore for the third quarter ended December 31, 2012.

The company, which is a part USD 3.5 billion Welspun Group, had posted a net loss of Rs 70 lakh for the same period of previous fiscal, Welspun India said in statement.

The company's revenues stood at Rs 922.5 crore for the third quarter against Rs 848.7 crore for the same period of 2011-12 fiscal.

"...The results indicate the success of our consolidation efforts and renewed focus on our core competencies," Welspun India Ltd Managing Director Rajesh Mandawewala said.

During the quarter, merger of Welspun India Ltd and Welspun Global Brands became effective thereby delivering synergy benefits, the company said.

"The company's focus over the next year will be to increase its backward integration, which will result in an improvement in operating performance across all product categories," it added.

Shares of Welspun India were trading at Rs 76.20 on the BSE in late afternoon trade, down 1.30 per cent from its previous close.