Textile company Welspun India Q2 net profit at Rs 96.6 crore
New Delhi: Textile company Welspun India today reported a profit after minority interest of Rs 96.6 crore in the July-September quarter.
It had reported a loss of Rs 147.5 crore in the corresponding period of the last year. The total income of the company, however, declined to Rs 1,629 crore in the second quarter of current fiscal, from Rs 1,815 crore in the year ago period, Welspun India said in a BSE filing.
The decrease in income was on account of a volume decline due to customer destocking, coupled with the base effect, the company said.
"We have increased our focus on our branding initiatives with new teams across geographies," Welspun Group Chairman B K Goenka said.