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Century net profit up 18 per cent

For the September quarter Century Textiles and Industries saw a 18.42 per cent rise in its net profit. It had posted a net profit of Rs 44.5 crores in the corresponding period of the previous fiscal. The company’s total income from operations, however, declined to Rs 1,844.57 crores from Rs 1,997.04 crores in the year ago period. During the quarter under review, its total expenses reduced to Rs 1,734.53 crores from Rs 1,952.13 crores in the corresponding period of the last fiscal.

Mumbai-based Century Textiles and Industries is active in textiles, viscose filament yarns, cement, and pulp and paper. In the textile business, Century has two revenue streams: cotton fabric and denim units. The company has a vertically integrated plant at Bharuch for manufacturing cotton fabrics.

Century Textiles and Industries is part of the BK Birla Group and was established in 1897. The cotton division of Century 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.