Century Textiles Q2FY23 PAT up 60.1% Rs71.58 crore paper segment doubles operating profits yoy

26 Oct 2022 , 09:01 PM

Century Textiles Ltd reported 20.1% growth in total revenues for the September 2022 quarter on consolidated basis at Rs1,242cr.

Revenue rise was 4.03% in sequential terms. In terms of the specific product lines of Century, its largest segment of pulp and paper products saw revenues rise 37.3% at Rs942 crore.

While the textiles segment revenue were lower at Rs235 crore, the real estate division revenues were flat at Rs33 crore in the quarter.

Paper division saw sharp spike in writing products as school demand revived.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 60.1% at Rs71.58 crore and it was also higher by an impressive 54.6% on sequential basis.

The operating profits of the pulp and paper division doubled to Rs161 crore and that was the key driver of profit growth. Both the textiles business and the real estate development business dipped into an operating loss in the Q2FY23 quarter.

Net profit margins at 5.76% in Q2FY23 is higher compared to 4.32% in Q1FY22 and also higher compared to 3.88% in Q1FY23. Net cash from operations turned around to positive in the first half of FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Century Textiles
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,242.11	₹ 1,034.27	20.10%	₹ 1,194.01	4.03%
Net Profit (Rs cr)	₹ 71.58	₹ 44.71	60.10%	₹ 46.31	54.57%
Diluted EPS (Rs)	₹ 6.41	₹ 4.00		₹ 4.15
Net Margins	5.76%	4.32%		3.88%