Century Textiles Reports Q2 Net Loss Of Rs 30 Crore
Century Textiles and Industries Limited recently reported its financial results for the quarter ending in September. Unfortunately, the company faced a challenging quarter, reporting a net loss of Rs 30 crore ($4.2 million) in contrast to a net profit of Rs 72 crore during the same period in the previous year. The total income for this quarter amounted to Rs 1,115 crore, which is down from the Rs 1,242 crore reported in the corresponding period of the previous fiscal year.
R K Dalmia, the managing director of Century Textiles and Industries Limited, provided insights into the Q2 results. Despite navigating the impact of changing market dynamics and geopolitical crises that affected global demand, the company demonstrated resilience thanks to its strong and sustainable manufacturing practices. Notably, the pulp and paper business exhibited consistent performance, achieving better sales volumes during this challenging quarter.
It’s essential to note that Century Textiles and Industries Limited specializes in various textile-related products, including cotton textiles, yarn, denim, and viscose filament rayon yarn. The company’s ability to adapt to changing market conditions and explore growth opportunities in different sectors will be key factors to watch as it moves forward.