Indian textile giant Welspun Living has announced a significant 16 per cent rise in consolidated net profit to Rs 146 crore ($17.5 million) for the fourth quarter ending March 31. This growth, from Rs 125 crore in the same period last year, reflects the company's robust performance amidst challenging market conditions. Revenue for the quarter also witnessed a substantial uptick, soaring by 19 per cent to Rs 2,617 crore compared to Rs 2,195 crore in the previous year.
For the fiscal year 2024, Welspun Living's total income reached Rs 9,825 crore, with a net profit of Rs 681 crore. Dipali Goenka, the Managing Director and CEO, attributed this success to the company's relentless pursuit of excellence. She highlighted the achievement of the highest quarterly and yearly revenues in Q4 and FY24, with a remarkable 20 per cent yearly growth and a sustainable EBITDA of 15.4 per cent.
Despite subdued retail market sentiments, Welspun Living's domestic retail business demonstrated resilience. With its flagship brand 'Welspun' solidifying its leadership position across the country, the company achieved its highest-ever revenues in FY24. Welspun Living, renowned for its home textiles offerings, continues to strengthen its presence in the market with a wide array of products including bed sheets, bath linen, and curtains under its private labels.
