Century Textiles reports Rs 84-crore Q4 profit as pulp and paper business revenues soar

Mumbai: Century Textiles and Industries Limited reported a return to profitability during the March quarter compared to a loss it incurred during the same period last year as its pulp and paper business reported best-ever quarterly sales.

The company reported a consolidated bottom line of Rs 84 crore for the quarter. Consolidated revenue grew by 45% year-on-year to Rs 1,188 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 66% to Rs 133 crore.

Its board declared a dividend of Rs 4 per share. The company’s stock closed 0.82% higher at Rs 886.4 on the BSE on Monday. It has lost 3.36% since the beginning of the year compared to a 4.4% dip in the benchmark Sensex.

"Century Textiles and Industries Limited has witnessed a very strong performance in all its operational and financial parameters, despite disruptions caused due to the third wave of Covid-19,” JC Laddha, the company’s managing director said in a statement. “Both the pulp and paper and the textiles business achieved peak capacity utilisation.”

Demand was growing across both the business segments, he said. The company also launched its flagship real estate project Birla Niyaara at Worli in Mumbai and Laddha expects this business too to register a strong growth.