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Welspun posts 10.29 per cent rise in profits in Q1

For Q1 ended June 30, Welspun, Indian Home Textiles Manufacturers and Exporters posted a 10.29 per cent rise profit on a year-on-year basis. Net sales rose to double digits at 11.30 per cent to to touch Rs 1,386.46 crores for the quarter under review as against Rs 1,245.6 crores in the same period in the last fiscal. In a BSE filing, the company said of the Rs 800 crores the company had planned to invest as capital expenditure in fiscal 2016-17, it has already spent Rs 140 crores in the reporting quarter.

The annual capacity of towels is expected to reach 72,000 metric tons by end of the current fiscal as against 60,000 posted at end of the earlier fiscal. As far as bed linen was concerned the company would have capacity of 90 million mt. compared to 72 million mt.

 
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