Welspun India: Raw Material Costs Hurt Profits

MUMBAI, India--Welspun India, the parent company of Welspun USA, said its fiscal second-quarter operating profit fell about 7 percent to approximately $22.2 million, after the currency conversion.

Profitability fell in spite of a 24 percent gain in sales for the quarter, which totaled approximately $123.4 million after the conversion. In a statement announcing the quarterly results, Welspun India said the decline in profitability occurred because of huge increases in raw material costs, in particular cotton, yarn, crude oil and energy.

According to the statement, "In the U.S., the positive trend of growth continues. Going forward, we intend on leveraging new and existing opportunities by achieving profitability in our hospitality business as well."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


Current Issue

  • HFN May digital issue


    May 2017

    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money