Century Textiles June quarter net profit declines by 62% at Rs 24 crore

The standalone internet revenue of Century Textiles and Industries Restricted decreased to Rs 24 crore within the first quarter of the present monetary yr (Q1YFY24), as in comparison with Rs 63 crore for the corresponding quarter of the earlier monetary yr, the corporate mentioned in a BSE submitting. It is a decline of 62 per cent.

The standalone internet gross sales of the corporate for Q1FY24 stood at Rs 1,106 crore, in comparison with Rs 1,170 within the corresponding quarter of the earlier monetary yr.

The corporate’s internet gross sales for Q1FY24 stood at Rs 1,106 crore, in comparison with Rs 1,172 crore year-on-year (YoY). This exhibits a lower of six per cent.

The corporate’s standalone earnings earlier than curiosity, taxes, depreciation, and amortisation (Ebitda) for Q1FY24 elevated by 15 per cent YoY. For Q1FY24, it stood at Rs 197 crore, whereas it was Rs 171 crore YoY.

The consolidated Ebitda registered a decline by 10 per cent. For Q1FY24, it stood at Rs 129, whereas it was Rs 143 crore within the corresponding quarter of the earlier monetary yr.

In keeping with the discharge, the important thing spotlight for the corporate was buying three initiatives with income potential of Rs 5,600 crore.

R K Oalmia, managing director, Century Textiles and Industries Restricted (CTIL) mentioned the corporate has maintained its operational efficiency whereas remaining steadfast in its dedication to sustainability.

“The pulp and paper enterprise carried out very nicely with margins bolstered by reducing enter prices and efficient value discount initiatives,” mentioned Oalmia.

Segmental efficiency of the corporate

Pulp and paper enterprise

In keeping with the discharge, the Ebitda elevated by eight per cent to Rs 144 crore in Q1FY24 as in comparison with Rs 134 crore within the corresponding quarter of the earlier monetary yr. The paper plant achieved general capability utilisation of 95 per cent.

Actual property enterprise

The corporate acquired vital initiatives in Pune, Mumbai, and Bengaluru. All ongoing actual property initiatives are progressing nicely.

Textile enterprise

This part contains state-of-the-art technical capabilities to supply several types of dyes, finishes, whites, and so forth., in completed material.

The turnover on this part has decreased by two per cent to Rs 218 crore in Q1FY24, as in comparison with Rs 222 crore YoY. The capability utilisation in Q1FY24 was 91 per cent, as in comparison with 89 per cent within the earlier quarter.

Out of our whole processing capability of 105,000 metres per day, the corporate’s facility has a capability of 45,000 metres per day to supply greige material.