Century Textiles and Industries sees net profits rise 11% in Q1

Century Textiles and Industries saw its profits rise by 11.06% to Rs 180.62 crore ($27.15 million) during the first quarter of the 2020 financial year which ended in June, compared to the same time period the year before.

Century Textiles and Industries’ profits were up but income was down in the June quarter of the 2020 financial year - Archiv

Century Textiles and Industries’ profits were up by around 11% year-on-year during the June quarter, totalling Rs 180.62 crore for the first quarter of the current financial year compared to Rs 162.62 crore during the same time period the year before. 

However, although profits were up according to the firm’s Bombay Stock Exchange filing, sales had declined over the quarter by 2.14% to Rs 855.64 crore compared to the same time a year before when sales were at Rs 874.33 crore, as reported by Business Standard.

The Press Trust of India also reported that the company's total income was down 10.37% from Rs 983.07 crore to Rs 881.08 crore during the same time period. 

The business had managed to increase its profits despite declining sales as it had reduced expenses by 3.62% from Rs 798.96 crore in the 2019 financial year’s first quarter to Rs 769.98 crore in the most recent quarter.

Century Textiles and Industries is based in Mumbai and manufacturers and exports textiles as well as cement and paper. The business specialises in cotton textiles, yarns, denim, viscose filament, and rayon yarn among other materials. 

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