Century Textiles and Industries' income increases 78% in Q1

By

Isabelle Crossley

Published
Jul 26, 2022

Century Textiles and Industries, an AV Birla Group company, reported a 78% net income increase in the first quarter of the 2023 financial year with a total of Rs 63 crore due to strong sales and operational efficiency.

The business’ total sales also increased by 41% year-on-year to total Rs 1,170 crore in the first quarter of this fiscal, Century Textiles and Industries announced on July 25, ET Bureau reported. The business specialises in manufacturing textiles for multiple purposes including apparel, pulp, and paper products among others. 
 
The business’ textile segment performed well in the first quarter, according to managing director J C Laddha, the Economic Times reported. Strong consumer demand for fabrics and clothing helped the textiles business’ sales increase by 31% year-on-year to total Rs 268 crore, also due to higher capacity utilisation at 96%. 

Century Textiles’ pulp and paper business saw an even higher sales increase during the quarter of 49% with total sales totalling Rs 857 crore. The business increased its capacity utilisation for the segment to 97% which facilitated a production increase for its paper segment of 17% and for its tissue segment of 14%.