Welspun India posts Q4 net profit of Rs 91 cr, total income at Rs 1,664 cr

Home textiles major Welspun India on Monday reported a consolidated net profit of Rs 90.59 crore in the fourth quarter ended March 31.

The company had posted a consolidated net loss of Rs 78.43 crore in the year-ago period, Welspun India said in a regulatory filing.

Total income during the quarter under review stood at Rs 1,664.46 crore as against Rs 1,600.94 crore in the corresponding quarter a year ago.

For fiscal year 2019-20, the company posted a consolidated net profit of Rs 524.35 crore as compared with Rs 226.17 crore in 2018-19.

Total income for FY20 stood at Rs 6,836.18 crore as compared with Rs 6,608.44 crore in FY19, it added.

Towards the end of Q4FY20, the operations of the company were impacted due to shutdown of all plants and offices globally, following the lockdown imposed by government authorities to contain spread of Covid-19 pandemic, Welspun India said.

The company has since then resumed operations in a phased manner and is operating in accordance with the health and safety guidelines, as issued by the respective government authorities.

Welspun Group Chairman B K Goenka said the company's efforts and investments to create vertically integrated facilities, including workers colony, warehouses, ancillary park, investment in skill development and product development has helped it to resume operations in record time despite the challenging macro environment.

"We have accelerated our journey towards digitalisation of all critical processes and functions within the company. We continue to focus on the enablers viz., innovation, branding and sustainability to consolidate our leadership position," he added.