Century Textiles Q4 Results: Check net income and other details

Century Textiles & Industries, a subsidiary of the Aditya Birla Group, recorded a net profit of Rs 84 crore for the March quarter on April 25, 2022. The company has risen from a loss of Rs 5 crore in the previous quarter, while sales increased by 45 percent to Rs 1,188 crore, according to PTI reported.

The textile, pulp and paper and real estate company earned Rs 200 crore in net income for the full financial year, a fourfold increase from Rs 50 crore in the pandemic-ravaged FY21. Its income in FY22 increased by 54% from Rs 2,564 crore in FY21 to Rs 4,067 crore.

According to PTI, JC Laddha, the company’s CEO, attributed the overall turnaround, especially in quarterly figures, to the pulp and paper business’ highest quarterly sales to date, followed by robust sales booked by real estate agent Birla Estates, whose flagship project Birla Niyaara has clocked over Rs 1,200 crore in bookings.

In the fourth quarter, consolidated sales rose 45 percent to Rs 1,188 crore, while full-year sales rose 58 percent to Rs 4,067 crore, he added.

“We have seen a very strong performance in all our operational and financial parameters despite disruptions caused by the third wave of the pandemic. Both the pulp and textile business achieved maximum capacity utilization as there is a strong increase in demand,” Laddha said.

He also sounded optimistic about real estate trading following the launch of Birla Niyaara in Worli in central Mumbai, where it has already received Rs 1,200 crore of reservations so far, PTI said.

“Our real estate business is also ready for strong growth. Total sales increased more than three times to Rs 1,913 million for the year,” he said.

He said that the first phase of the recently opened Birla Navya project in Gurugram was totally sold out and that he had entered into an agreement with Ramaiah Realty to jointly construct a 52-acre piece of land in northern Bengaluru, said PTI.

He claimed that profitability had completely reversed from the previous year due to significant sales growth and increased operating efficiency. This vertical launched a home textile for the domestic market under the Hill & Glade brand during the year, as according to PTI said.

According to Laddha, the pulp and paper industry will continue to see good demand across all categories led by the tissue segment with some relief in cinemas, theaters, restaurants and amusement parks. Traders have also begun to accumulate channel stocks, indicating an increase in demand, he added.

(With input from PTI)

Leave a Reply

Your email address will not be published. Required fields are marked *