In Short:
Century Textiles and Industries reported a net profit of ₹7.8 crore in the June quarter, with revenue from operations rising by over 28 per cent to ₹1,140 crore. The company faced challenges from rising input costs and the global supply chain crisis, causing a 26 per cent drop in revenue sequentially. Revenue from real estate operations under Birla Estates saw a significant increase, contributing 29 per cent to total revenue. The company plans to launch projects worth ₹12,000 crore this fiscal year.
Century Textiles and Industries Reports Rise in Profit in June Quarter
Exciting news from **Century Textiles and Industries** as they reported a net profit of ₹7.8 crore in the June quarter, compared to a loss last year. The company also saw a significant increase in revenue from operations, which rose over 28 per cent to ₹1,140 crore.
Challenges Faced in the Quarter
Despite the positive numbers, the quarter was not without challenges for the company. Rising input costs and the global supply chain crisis caused a 26 per cent sequential decline in revenue. The profit from continuing operations, at ₹28 crore, also saw a decrease compared to both last year and sequentially.
Revenue Breakdown
The bulk of **Century Textiles and Industries**’ revenue, 68 per cent, comes from the pulp and paper business, while real estate accounts for 29 per cent.
Real Estate Operations on the Rise
**Birla Estates**, the subsidiary of the company, saw a significant increase in revenue in the real estate segment. In the June quarter, this segment reported revenue of ₹338 crore, nearly nine times more than the previous year.
Future Plans
The company has ambitious plans for the current fiscal year, with projects worth a total revenue potential of ₹12,000 crore set to be launched. Projects in Mumbai, NCR, Pune, and Bengaluru, with a gross development value of ₹53,000 crore, are already underway. In addition, **Century Textiles and Industries** acquired two land parcels in Gurugram and Pune with a revenue potential of ₹7,800 crore.
Outlook for the Industry
Despite challenges, the pulp and paper business saw an increase in production and sales volumes. Seasonal factors are expected to boost demand in the second quarter, especially in the writing and printing paper segment. The company also anticipates an increase in demand from the FMCG and pharma sectors, with expectations of export demand from Europe, USA, and UK markets.
Overall, a Positive Outlook
**Century Textiles and Industries** remains optimistic about the future, with plans for growth and expansion across its business segments. Stay tuned for more updates from this dynamic company!
