Century Textiles Q2 operating losses reduce on sequential basis

Century Textiles reported consolidated sales revenues of Rs.607 crore for the quarter ended Sep-20 compared to Rs.885 crore in Sep-19 and Rs.399 crore in Jun-20.

Oct 19, 2020 02:10 IST India Infoline News Service

Century Textiles reported consolidated sales revenues of Rs.607 crore for the quarter ended Sep-20 compared to Rs.885 crore in Sep-19 and Rs.399 crore in Jun-20. However, these figures are strictly not comparable as Century Textiles has been in the midst of transferring its cement operations to Ultratech and we have only considered the continuing operations.

The operating losses reduced in the Sep-20 quarter but on a net basis the company continues to report a loss. The operations of the company had also been severely impacted on account of the virus lockdown and that was evident in the June numbers. However, any of the numbers are not strictly comparable due to a combination of the pandemic and the partial discontinuation of cement operations and transfer to group company, Ultratech.



Here are the financial highlights

Particulars Sep-20 Quarter Growth (YOY) Growth (QOQ)
Total Revenues Rs607.49cr -31.38% +57.90%
Operating Profit Rs-4.49cr Not Applicable Not Applicable
Net Profits Rs-10.35cr Not Applicable Not Applicable
Key Ratios Sep-20 Quarter Sep-19 Quarter Jun-20 Quarter
Diluted EPS Rs-0.97 Rs16.77 Rs-3.22
Operating Margins -0.74% 11.20% -9.20%
Net Profit Margin -1.70% 21.16 -9.09%

Key takeaways from the Sep-20 quarter results
  • If you look at the net cash generated from operating activities in the first half of the year, it is four times the net cash generated from operations in the corresponding period last year.
  • The pulp and paper division clocked capacity utilization of 73%, indicating a quick recovery from the pandemic. Realty business showed strong traction in sales during the quarter.
  • Textiles business also operated at 74% capacity utilization despite the challenges posed by the pandemic. 

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