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Welspun India posts Q3 FY18 income at Rs 14,143 million
Feb '18
Courtesy: Welspun
Courtesy: Welspun
Welspun India Ltd., part of the $2.3 billion Welspun Group, has recorded total income of Rs 14,143 million for the third quarter of fiscal 2018, as against Rs 15,218 million in the third quarter of fiscal 2017. The decrease was on account of a volume decline due to customer destocking coupled with goods and services tax impact on duty drawback.

For the reported period, the company's EBITDA reached at Rs 2,687 million in comparison to Rs 3,673 million in third quarter of 2017. EBITDA margins were adversely impacted by lower volumes as well as higher raw material costs.

It is the only Indian company to be ranked among top 3 in product-wise sustainability scores by Walmart. Profit before Tax stood at Rs 1,070 million compared to the Q3FY17 total of Rs 1,888 million.

The company's finance cost stood at Rs 345 million, 28 per cent lower y-o-y than Rs 480 million in the corresponding quarter of previous year. Depreciation was marginally lower at Rs 1,272 million as against Rs 1,305 million in the third quarter of fiscal 2017.

Its net worth stood at Rs 25,759 million as on December 31, 2017 in comparison to Rs 23,971 million at fiscal 2017 end. Net debt totaled at Rs 28,903 million in comparison to Rs 30,389 million. 

"We have been taking steps to be prepared for the future - in terms of our brands, channels, innovation, traceability solutions, sustainability initiatives and so many other areas. We believe we have built a solid foundation and are ready to enter the next trajectory," BK Goenka, chairman, Welspun Group, said. (RR)

Fibre2Fashion News Desk – India

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