Welspun Q3 income up 17.2%, Wel-Track items contribute 3%

07 Feb '19

1 min read

Courtesy: Welspun

In the third quarter of fiscal 2019, the total income of Welspun India Ltd has increased 17.2 per cent year-on-year to Rs 16,574 million as against Rs 14,143 million in the third quarter of fiscal 2018. With the continuing double-digit revenue growth, predominantly volume-driven, Wel-Trak products contributed 3 per cent to overall revenues in the quarter.

The company saw major business expansion in its hospitality business in India and abroad, Welspun said in a BSE filing.

Company continues to calibrate capex according to cashflows. Capex for the flooring project is on track. During the nine months ended December, capex was Rs 5,634 million including Welspun Flooring capex of Rs 3,721 million. For fiscal 2019, capex is expected to be Rs 9 billion. Favourable impact of the rupee depreciation during the current year will be evident in the revenue during the next financial year.

"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. (RR)

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