Welspun India Q1 profit rises 10.29% at Rs201.85 crore
- Ambuja Cements Q4 profit jumps to Rs338 crore as sales volume rises
- Govt to bring in bill to check unregulated deposit schemes on the anvil
- Bitcoin rises as South Korea talks ‘active’ support for trading
- Sony to form alliance to build taxi-hailing system
- Chinese warships enter East Indian Ocean amid Maldives tensions
New Delhi: Welspun India on Tuesday reported a 10.29% rise in consolidated net profit at Rs.201.85 crore for the first quarter ended 30 June. The company had reported a net profit of Rs.183.01 crore in the corresponding period of last fiscal year.
Net sales of the company went up by 11.30% to Rs.1,386.46 crore for the reported quarter as compared with Rs.1,245.6 crore in the same period last year, Welspun India said in a BSE filing.
For fiscal year 2016-17, the capital expenditure planned is Rs.800 crore, the company said. “Out of this, Rs.140 crore of capex has been invested during the quarter,” it added.
By the end of the year, annual capacity is expected to reach 72,000MT in towels (from 60,000MT at end of last fiscal year), 90 million metres in bed linen (from 72 million metres at end of last fiscal year) and 10 million sq. metres in rugs and carpets (from 8 million sq. metres at end of last fiscal year).
Shares of Welspun India closed 7.29% lower at Rs.100.50 apiece on BSE, while the benchmark Sensex declined 0.42%, or 118.82 points, to 27,976.52.