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What is the story about?
Welspun Living reported a sharp decline in profitability for the December quarter, with net profit falling to ₹0.2 crore compared with ₹120.8 crore in the year-ago period.
Revenue from operations dropped 9.1% year-on-year to ₹2,262.2 crore from ₹2,489.6 crore. On a total income basis, revenue stood at ₹2,277 crore, down 9.9% from last year.
Operating performance weakened during the quarter. EBITDA fell 43% to ₹160.4 crore from ₹280.9 crore a year earlier, while margins contracted to 7.1% from 11.3%.
Also Read: India-US Trade Deal: Gokaldas Exports, Welspun Living, other textile shares jump 20%
Segment-wise, textile business revenue declined 4.7% to ₹2,175 crore, while the flooring business saw a steeper 20.3% drop to ₹172 crore.
Shares of Welspun Living were trading volatile at ₹833.55, down 0.63% as of 2:36 pm on February 12 on the NSE.
Chairman B.K. Goenka said the company’s long-standing global customer relationships helped retain business in a challenging environment. He pointed to India’s advancing free trade agreements with the US, EU and UK as long-term positives for the textile sector.
Innovation contributed about 22% of revenue during the quarter, while global brands accounted for roughly 12% of total revenues.
Revenue from operations dropped 9.1% year-on-year to ₹2,262.2 crore from ₹2,489.6 crore. On a total income basis, revenue stood at ₹2,277 crore, down 9.9% from last year.
Operating performance weakened during the quarter. EBITDA fell 43% to ₹160.4 crore from ₹280.9 crore a year earlier, while margins contracted to 7.1% from 11.3%.
Also Read: India-US Trade Deal: Gokaldas Exports, Welspun Living, other textile shares jump 20%
Segment-wise, textile business revenue declined 4.7% to ₹2,175 crore, while the flooring business saw a steeper 20.3% drop to ₹172 crore.
Shares of Welspun Living were trading volatile at ₹833.55, down 0.63% as of 2:36 pm on February 12 on the NSE.
Chairman B.K. Goenka said the company’s long-standing global customer relationships helped retain business in a challenging environment. He pointed to India’s advancing free trade agreements with the US, EU and UK as long-term positives for the textile sector.
Innovation contributed about 22% of revenue during the quarter, while global brands accounted for roughly 12% of total revenues.
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