 "Welspun India")
Indian textiles firm Welspun Living reported a 16% rise in fourth-quarter profit on Thursday, buoyed by stable demand for its home textile and flooring products.
Consolidated net profit rose to Rs 146 crore ($17.52 million) in the quarter ended March 31 from Rs 125 crore a year earlier.
KEY CONTEXT
Indian textile goods makers have seen resilient demand, especially in urban areas, offering discounts on products to attract more consumers in the face of persistent inflation.
Analysts expect a further increase in demand and easing prices of key raw materials, such as cotton, to boost textile firms' bottomline in the next few quarters as well.
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