Welspun Living shares rise 10 per cent after Q2 profit jump
The home textiles company reported a consolidated net profit of ₹169.66 crore for the September quarter of FY27.
Welspun Living shares increased by over 10 per cent on Monday, 2 November, following the announcement of its September quarter results for FY27, according to a report by Mint. The company's consolidated net profit for the July-September quarter reached ₹169.66 crore, up from ₹14.86 crore in the same period last year.
Revenue from operations for the quarter rose 12.3 per cent year-on-year to ₹2,838.12 crore, while total expenses increased 8.42 per cent to ₹2,636.77 crore. The Home Textiles segment revenue grew 15.82 per cent to ₹2,689.02 crore, and the Flooring segment saw a 19.3 per cent increase to ₹216.23 crore.
Managing Director and CEO Dipali Goenka said the company achieved robust growth, noting that revenue increased 16.9 per cent year-on-year and the EBITDA margin expanded to 12.9 per cent. She attributed this to the resilience of the business model and disciplined execution.
Nuvama Institutional Equities raised its target price for the stock to ₹256 from ₹209. JM Financial maintained a 'Buy' rating and revised its target price to ₹275 from ₹285, noting the company turned net cash positive with a position of ₹2 crore.
Technical analyst Rajesh Bhosale of My Advisor Alpha said the stock faces resistance near ₹245, which it must cross to sustain momentum. Gaurav Arora, Head of Research at SAHI, noted the stock remains in an upward continuation move with immediate resistance at ₹245.