Century Textiles soars after turnaround in Q2 performance

Century Textiles & Industries jumped 5.17% to Rs 983.90 after the company reported a consolidated net profit of Rs 44.71 crore in Q2 FY22 as against a net loss of Rs 14.13 crore in Q2 FY21.

Oct 14, 2021 01:10 IST capital market

Sales increased by 67.5% YoY to Rs 997.98 crore in Q2 FY22 over Q2 FY21. On the segmental front, revenue from Textiles was Rs 273.89 crore (up 99.6% YoY), Pulp and Paper revenue was Rs 685.97 crore (up 63.7% YoY), revenue from Real Estate was Rs 35.41 crore (down 0.4% YoY) and Other revenue was Rs 2.89 crore (down 27% YoY) during the period under review.

The company posted a pre-tax profit of Rs 61.99 crore in the second quarter. It had recorded a pre-tax loss of Rs 8.69 crore in the same period last year.

JC Laddha managing director, Century Textiles and Industries, said: ?Manufacturing businesses posted excellent results due to healthier business environment, robust productivity at our manufacturing plants and financial prudence. Pulp & Paper business saw the best ever quarter in terms of production and sales volumes mainly supported by higher volumes from value added products and new products.

The Textiles business saw a strong revival supported by robust domestic demand on account of upcoming festive season. The Real Estate business received a strong response to its Kalyan Phase 2 launch.?

Century Textiles & Industries has presence in cotton textiles, pulp & paper and real estate sectors.

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