Textile firm Welspun India on Friday reported a 65.56 percent decline in consolidated net profit to Rs 53.75 crore for the quarter ended June on account of lower income. The company had posted a net profit of Rs 156.07 crore for the corresponding period of the previous financial year.

Total income during the quarter under review stood at Rs 1,216.04 crore, down 29.96 percent from Rs 1,736.29 crore earlier, Welspun India said in a regulatory filing.

Welspun Group Chairman B K Goenka said: "In a quarter marked by challenging conditions and uncertainties, we have demonstrated resilience in our performance. We are well equipped for the 'New Normal' and have resumed operations in record time while prioritising the safety and well-being of our people. We continue to accelerate our journey towards digitalisation of all critical business functions and processes."

Shares of Welspun India were trading 2.61 percent higher at Rs 35.40 apiece on the BSE.

First Published:Jul 24, 2020 2:54 PM IST