For the first quarter, Century Textiles and Industries’ net profit rose 11.06 per cent. Total income fell 10.37 per cent. Total expenses fell 3.62 per cent. Mumbai-based Century Textiles and Industries is active in textiles, viscose filament yarns, cement, and pulp and paper. In textile business, Century Textiles has two revenue streams: cotton fabric and denim units, The company has a vertically integrated plant at Bharuch for manufacturing cotton fabrics. The cotton division is one of the oldest in India and manufactures a wide range of premium textiles and supplies to many international players, including Royale Linen, Ralph Lauren, DKNY, Belk and US Polo. Century Textiles’ financial metrics have declined, mainly due to its high debt. Interest costs have corroded its profit after tax. Besides, due to falling demand and pressure on selling prices of cement, the financial performance of cement units has also suffered.
Net sales were Rs 2209.38 crores during the three month period ended June 30, 2018, as compared to Rs 2301.18 crores during the three month period ended June 30, 2017. Net profit for the three month period ended June 30, 2018, was Rs 162.66 crores as against Rs 120.24 crores for the three month period ended June 30, 2017.
