Despite the second wave affecting business activities, Century Textiles & Industries reported net income of Rs 5.4 billion and revenues of Rs 99.8 billion on a non-consolidated basis for the quarter ending September.
In the same period last year, which was devastated by the first wave of the pandemic, it recorded a net income of Rs 500 million and a revenue of Rs 60 billion.
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Birla Group companies attributed good performance to higher operational efficiency and improved market sentiment.
Despite the pandemic turmoil, Managing Director JC Laddha has been able to perform resiliently as manufacturing has performed well due to a healthier business environment, solid productivity and financial prudence. Said that it can be realized.
The pulp and paper industry recorded the highest quarter in production and sales, primarily supported by increased sales of value-added and new products.
The textile business has revived strongly against the backdrop of strong domestic demand, and real estate has responded strongly to the launch of Phase II of the Karyan project.
The pulp and paper business showed the highest throughput of reaching 101% capacity utilization, but sales increased 64% due to a significant improvement in demand in the writing and printing paper segments.
In the real estate business, we saw a strong collection in every project against the backdrop of strong customer connections and outreach.
During the quarter, it launched the second phase of Birlavagna in Karyan, which was a sensation.
He said the company’s two commercial assets, Birla Aurora and Birla Centurion, continue to generate stable rents.
The textile business recovered with factories operating at 91% capacity from 68% last year, with sales up 109% from last year.
Century records net revenue of Rs54cr with revenue of Rs998cr
Source link Century records net revenue of Rs54cr with revenue of Rs998cr