Q2 Results: Welspun India Expects Double-Digit Revenue Growth This Year
Welspun India Ltd. expects double-digit revenue growth in the current financial year, said its Chief Financial Officer Altaf Jiwani.
“Our revenue has entered double-digit growth trajectory,” Jiwani told BloombergQuint in an interaction.
Jiwani expects lower margins for 2018-19, impacted by the rupee depreciation. “The impact of the exchange rate was reflected in our cost, but not in revenue,” he said. “This will get corrected as we start exhausting the existing hedges.”
The rupee has depreciated nearly 13 percent year-to-date, in response to higher oil prices and foreign outflows.
He, however, was confident that the margins would be stronger in the next financial year.
Key earnings highlights (Q2, YoY):
- Revenue up 11 percent at Rs 1,780 crore.
- Net profit rose 19 percent to Rs 115 crore.
- Ebitda up 2.2 percent at Rs 289.5 crore.
- Margin at 16.3 percent versus 17.6 percent.
Watch the full conversation here: