Home textiles major Welspun India Ltd on Wednesday reported a decline of 90.41 per cent in its consolidated net profit to Rs 21.36 crore for the June 2022 quarter, mainly on account of high input costs.
The company had posted a consolidated net profit of Rs 222.90 crore in the April-June quarter a year ago, Welspun India said in a regulatory filing.
Its revenue from operations slipped 11.61 per cent to Rs 1,957.25 crore during the quarter under review. It was Rs 2,214.49 crore in the year-ago period.
Welspun India’s total expenses rose 1.52 per cent to Rs 1,942.68 crore in Q1 FY 2022-23 from Rs 1,913.43 crore. Its revenue from home textiles was Rs 1,852.05 crore and Rs 169.38 crore from the flooring segment.
Welspun Group Chairman BK Goenka said: “We have delivered a relatively healthy operating performance in the face of an unusually tough macroeconomic environment characterised by unprecedented high input costs, rising inflation and subdued consumer sentiments”.
Shares of Welspun India Ltd on Wednesday settled at Rs 71.60 apiece on BSE, down 0.69 per cent from the previous close. PTI KRH KRH BAL BAL
