Welspun India's domestic retail business shows 16% growth in Q2 FY23

Welspun India’s revenue from home textiles was ₹20,114 million in Q2 FY23, compared to ₹23,749 million in Q2 FY22. On a YoY basis, the company’s revenue from home textiles reduced 15.3 per cent.

The company’s total income for Q2 FY23 was ₹21,366 million, compared to ₹25,014 million in Q2 FY22, and for the first half (H1) of FY23, the total income was ₹41,156 million, compared to ₹47,282 million in H1FY22. EBITDA for Q2 FY23 stood at ₹1,517 million with EBITDA margin at 7.1 per cent, and for H1 FY23, the EBITDA was ₹3,252 million with EBITDA margin at 7.9 per cent, the company said in a regulatory filing.

The company’s revenue from operations reduced to ₹21,135 million in Q2 FY23, compared to ₹2,487.63 million in Q2 FY22. Total expenses of Welspun India also reduced to ₹21,229 million in Q2 FY23, compared to ₹22,181 million in Q2 FY22.

The company reported a net profit of ₹83.3 million in Q2 FY23, as compared ₹2,015 million in Q2 FY22.

Welspun India also declared in the regulatory filing that its pan India footprint has crossed 10,000+ outlets and 500+ towns.

“In view of the macro environment that continues to be challenging, the company’s operating and financial performance demonstrates the trust it enjoys among its global customers. This is evident in the growth registered by the company’s brands portfolio and the domestic retail business in particular, which delivered a robust 60 per cent growth in H1 FY23 on the back of an expanding retail footprint that stands at over 10,000 outlets across more than 500 towns and power brands like ‘Welspun’ and ‘Spaces’.”

Fibre2Fashion News Desk (DP)