Welspun India This fall web surges 48%, declares Rs 200 crore share buyback


on Friday reported a 48.3 per cent bounce in consolidated web revenue to Rs 134.34 crore within the fourth quarter ended March 2021, helped by larger earnings.

The corporate had posted a web revenue of Rs 90.59 crore within the year-ago interval.

The full earnings through the quarter beneath evaluate stood at Rs 2,173.56 crore as in opposition to Rs 1,664.46 crore within the corresponding quarter a 12 months in the past, mentioned in a regulatory submitting.

The corporate, in a separate submitting, mentioned its board has permitted buyback of fairness shares by the corporate at a worth of Rs 120 per fairness share for an mixture quantity of Rs 200 crore, representing 6.36 per cent of the entire paid-up fairness share capital and free reserves from the shareholders of the corporate on a proportionate foundation.

Earlier within the day, mentioned it should work with US retail big Goal Company once more, nearly 5 years after Goal terminated the contract with the Gujarat-based textiles maker over alleged lapses in labelling and advertising of Egyptian cotton merchandise.

Welspun India mentioned till FY16, Goal Company accounted for nearly 10 per cent of its total enterprise.

In 2016, Goal Company had terminated its contract over alleged lapses within the provide of its product.

Shares of Welspun India settled 11.02 per cent larger at Rs 101.25 apiece on BSE.

(Solely the headline and film of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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