Welspun India Q3 PAT touches Rs 109.5 cr

Welspun India Ltd is a fully integrated home textile manufacturers and one of the top three globally, in a released today announced that its profit after tax (PAT) has touched Rs 109.5 crore during the third quarter of this financial year.

While revenue of the company, part of USD 3.5 billion Welspun Group, grew by 24 per cent at Rs 1,146.8 crore compared to Rs 922.5 crore in Q3 FY13 with strong volume growth across towels and rugs.

The PAT of the company stood at Rs 51.6 crore in the corresponding quarter of FY13,

According to Welspun India Chairman B K Goenka, their strategic repositioning has helped them deliver strong results consistently over the last few quarters. The backward integration capex, once commissioned, will improve quality and availability of key intermediate products such as yarn and fabric

They will continue their focus on quality and innovation to consolidate their position as the top global home textile supplier. The US, which is the largest market for Indian players, continued to show signs of economic growth.

The domestic market is growing at a fast pace, with FDI in retail likely to provide a further impetus, the company said.

In spite of Europe granting duty-free access to Pakistan and Bangladesh, Indian exports to Europe are growing and could receive a further boost if the India-EU Free Trade Agreement is signed.

Welspun has modern manufacturing facilities at Anjar and Vapi in Gujarat, India where it produces the entire range of home textiles for bed & bath category