Rising Rupee Trims Welspun Profits

Mumbai, India — The rising valuation of the rupee helped take a bite out of Welspun India Ltd.'s second-quarter profit, which fell 8.4% to 168 million rupees, or approximately $4.2 million.

Sales for the quarter ended Sept. 30 rose 7% to 2.9 billion rupees, or $79 million.

For the first half of the year, profit rose 0.6% to 260 million rupees, or $6.6 million. Sales climbed 17.6% to 5.59 billion rupees, or $141 million.

Exports account for approximately 93% of the towel and bedding manufacturer's sales during the quarter.

Featured Video

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.

CURRENT ISSUE

HTT digital edition

See the June 2017 issue of Home & Textiles Today. In this issue, we discuss how U.S, ports are gearing up for the future, and what to expect from second half trade shows. See details!