For the second quarter Century Textiles and Industries had a 59 percent rise in consolidated net profit.

Building upon the momentum initiated in the previous quarter, the company performed even better in this quarter, especially due to increased market demand during the festive season, favourable impact of the single-use plastic ban as well as several cost-reduction initiatives implemented across its production facilities.

Founded in 1897, Century Textiles, a part of Aditya Birla, specialises in textiles including cotton textiles, yarn, denim, and viscose filament rayon yarn.The manufacturing businesses, in particular, witnessed a strong turnaround on the back of continuous drive towards product innovation, customer centricity and better financial management. The textile business saw a strong demand in the bed linen segment. The business is expected to accelerate between August to December this year, in both the domestic as well as the export markets.

The pulp and paper business performed well in the quarter due to a strong demand from the tissue and board segments. The real estate business posted a significant jump in collections along with a steady leasing income.