Welspun India has registered a 22.41 per cent growth in its net earnings, which stood at Rs 92.3 million for the quarter ended June 2007, as against Rs 75.4 million in the same period of the last year (2006).

The company recorded a 33 per cent increase in its net sales at Rs 2,647.42 million for the quarter (June 2007) as compared to Rs 1,988.95 million in 2006.

Total Income was seen at Rs 2,771.28 in the quarter, as against Rs 1,950.72 for the year ago period.

The earnings per share (EPS) for the same period was Rs 1.25 as against Rs 0.97 a share in the same period of the previous year.

Welspun started as a small textile division. It has developed speedily to turn into a market leader in each sector, which it operates viz. terry towels, yarns and SAW pipes. Welspun India is the Asia`s biggest maker of terry towels that accounted for 79% of FY06 earnings, and the fifth biggest in the world-wide business industry. The company has high-tech construction plants at Anjar and Vapi.

The company is a preferred supplier to major retailers in the EU and the US. Welspun also has marketing licences for the Nautica and Tommy Hilfiger brands and owns the Spaces brand in India.  

The company’s shares gained Rs 2.85, or 4.64% to close at Rs 64.25, on Thursday. The total volume of shares traded was 80,828 at the BSE.