Welspun India Q1 profit rises 10.29% at Rs201.85 crore1 min read . Updated: 26 Jul 2016, 04:02 PM IST
Net sales of the company went up by 11.30% to `1,386.46 crore for the reported quarter as compared with `1,245.6 crore in the same period last year
New Delhi: Welspun India on Tuesday reported a 10.29% rise in consolidated net profit at ₹ 201.85 crore for the first quarter ended 30 June. The company had reported a net profit of ₹ 183.01 crore in the corresponding period of last fiscal year.
Net sales of the company went up by 11.30% to ₹ 1,386.46 crore for the reported quarter as compared with ₹ 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 ₹ 800 crore, the company said. “Out of this, ₹ 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 ₹ 100.50 apiece on BSE, while the benchmark Sensex declined 0.42%, or 118.82 points, to 27,976.52.