Century Textiles returns to profitability in March quarter

By

Isabelle Crossley

Published
Apr 27, 2022

Textiles and paper business Century Textiles saw a return to profitability in the recent March quarter with 45% year-on-year revenue growth after reporting a loss during the same time period a year ago. 

Century Textiles reported that its consolidated revenue increased to Rs 1,188 crore during the March quarter, ET Bureau reported. The business’ consolidated bottom line totalled Rs 84 crore for the quarter showing a marked improvement from its financials a year ago in the height of the pandemic.      
 
“Century Textiles and Industries Limited has witnessed a very strong performance in all its operational and financial parameters, despite disruptions caused due to the third wave of Covid-19,” said the business’ managing director JC Laddha in a statement, the Economic Times reported. “Both the pulp and paper and the textiles business achieved peak capacity utilisation.”

The business’ pulp and paper arm reported its highest ever quarterly sales in the March quarter. Moreover, the entire business’ earnings before interest, tax, depreciation, and amortisation increased by 66% year-on-year to total Rs 133 crore. These announcements caused the business’ stock to close 0.82% higher at Rs 886.4 per share on the Bombay Stock Exchange on April 26. 
 
Century Textiles reported growth across its business operations which Laddha expects to continue. The business has launched its flagship real estate project ‘Birla Niyaara’ at Worli in Mumbai which it also expects to contribute to further growth. 
 
Century Textiles is owned by the Aditya Birla Group and specialises in textiles including cotton textiles, yarn, denim, and viscose filament rayon yarn. The business was founded in 1897.