Century Textiles posts Q2 net loss of Rs 30 crore

Century Textiles and Industries Limited reported a net loss of Rs 30 crore ($4.2 million) for the quarter ended September, as against a net profit of Rs 72 crore in the year-ago period.

The company reported a total income of Rs 1,115 crore, as against Rs 1,242 crore reported in the corresponding period of the previous fiscal year.

Commenting on the Q2 results, R K Dalmia, managing director of Century Textiles and Industries Limited in a statement said, “The company has weathered the impact of changing market dynamics, even amid a string of geopolitical crises affecting global demand, with its robust and sustainable manufacturing practices. The pulp and paper business performed consistently well, achieving better sales volumes during the quarter.”

“The real estate business has not only showcased stellar sales performance during the quarter but has also strengthened its sectoral presence with high development potential acquisitions,” he added.

Founded in 1897, Century Textiles specialises in textiles including cotton textiles, yarn, denim, and viscose filament rayon yarn.