Net Profit At Century Textiles Soars 855 Percent In Q3FY’24
Net profit at Century Textiles and Industries Ltd soared 855 percent to Rs 83.3 crore in the third quarter of the fiscal 2023-24, compared to Rs 8.72 crore in the corresponding quarter of the previous fiscal.
The Aditya Birla Group’s company revenues in the three months to December 31, 2023 increased 8.8 percent to Rs 1,271.94 crore, as against Rs 1,168.68 crore in the year ago quarter.
“The company has showcased a remarkable turnaround this quarter as a testament to its resilience,” RK Dalmia, MD at Century Textiles said in a statement.
“Stellar performance by pulp and paper business achieving higher production levels and sales volumes this quarter, because of various strategic initiatives,” he added.
“Meanwhile, our textiles business continues to experience challenges due to subdued demand in export markets,” Dalmia noted
Founded in 1897, Century Textiles specialises in textiles including cotton textiles, yarn, denim, and viscose filament rayon yarn.
