Century Textiles and Industries Limited Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended September 30, 2016
October 28, 2016 at 11:52 am
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Century Textiles and Industries Limited announced unaudited earnings results for the second quarter and six months ended September 30, 2016. For the quarter, the company's gross sales/income from operations was INR 19,852.1 million compared with INR 20,680.7 million a year ago. Profit from operations before other income, financial costs and exceptional items was INR 1,510.0 million compared with INR 760.2 million a year ago. Profit before tax was INR 300.5 million compared with loss of INR 590.6 million a year ago. Net profit for the period was INR 411.0 million or INR 3.68 per basic and diluted share (not annualized) compared with net loss of INR 314.5 million or INR 3.10 per basic and diluted share (not annualized) a year ago.
For the six months, the company's gross sales/income from operations was INR 42,258.4 million compared with INR 42,142.3 million a year ago. Profit from operations before other income, financial costs and exceptional items was INR 2,840.6 million compared with INR 1,630.2 million a year ago. Profit before tax was INR 339.2 million compared with loss of INR 1,115.9 million a year ago. Net profit for the period was INR 420.3 million or INR 3.76 per basic and diluted share (not annualized) compared with loss of INR 746.8 million or INR 7.36 per basic and diluted share (not annualized) a year ago.
Century Textiles and Industries Limited is an India-based company, which is principally engaged in the manufacturing of textiles, cement, pulp and paper and real estate. The Company's segments include Textiles, Pulp and Paper, Real Estate and Others. The Textiles segment include Yam, Fabric, Viscose Filament Yam and Tire Yan. The Pulp and Paper segment include pulp, writing & printing paper, tissue paper and multilayer packaging board. The Real Estate segment includes residential projects, leased properties and investment properties. The Others segment includes salt works and chemicals. The Company's subsidiaries include Birla Estates Private Limited, Birla Century Exports Private Limited, Birla Century International LLC, Avarna Projects LLP, Birla Tisya LLP and Birla Arnaa LLP. Birla Tisya LLP is engaged in real estate business.