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Welspun India Q3 income jumps 17.2%

Indian home textile company, Welspun has announced its third quarter results. During the quarter, total income of the company increased by 17.2 percent year-on-year to Rs. 16,574 million as against Rs. 14,143 million in the third quarter of fiscal 2018.

Wel-Trak products contributed 3 percent to revenues.

Notably, a patented, end-to-end traceability process called Wel-Trak is an industry-defining procedure which ensures that customers can trace the origin of the cotton raw materials all through the supply chain from farm to the retail shelf.

During the nine months ended December, capex was Rs. 5,634 million. For fiscal 2019, capex is expected to be Rs. 9 billion.

“We continue to maintain our focus on the domestic market and building a strong B2C presence. Our new initiatives such as flooring solutions, advanced textiles, e-commerce and hospitality are contributing towards sustainable growth. Branding, innovation and sustainability continue to be the cornerstones of our differentiation strategy,” BK Goenka, chairman, Welspun Group, said.

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