Century Textiles Q4 Results: Check net income and other details

The Century Textiles & Industries, a subsidiary of the Aditya Birla group, recorded a net profit of Rs 84 crore for the March quarter on April 25, 2022. The company is up from a loss of Rs 5 crore in the previous quarter, while sales increased by 45 percent to Rs 1,188 crore, as per PTI reported.

The textiles, pulp and paper, and real estate company earned Rs 200 crore in net income for the whole financial year, up fourfold from Rs 50 crore in the pandemic-ravaged FY21. Its income in FY22 increased by 54% from Rs 2,564 crore in FY21 to Rs 4,067 crore.

According to PTI, J C Laddha, the company's managing director, attributed the overall turnaround, particularly in quarterly numbers, to the pulp and paper business's highest-ever quarterly sales, followed by robust sales booked by realty arm Birla Estates, whose flagship project Birla Niyaara has clocked over Rs 1,200 crore in bookings.

In the fourth quarter, consolidated sales increased by 45 percent to Rs 1,188 crore, while full-year sales increased by 58 percent to Rs 4,067 crore, he added.

"We have seen a very strong performance in all our operational and financial parameters despite disruptions caused by the third wave of the pandemic. Both the pulp & paper as well as textiles business achieved peak capacity utilisation as there is strong uptick in demand, Laddha said.

He also sounded upbeat about realty business following the launch of Birla Niyaara at Worli in central Mumbai, where it has already received Rs 1,200 crore of bookings so far, PTI said.

"Our real estate business is also poised for strong growth. The overall sales rose more than three times to Rs 1,913 crore for the year," he said.

He said that the first phase of the Birla Navya project in Gurugram, which had recently opened, was totally sold out, and that he had inked an agreement with Ramaiah Realty to jointly construct a 52-acre land tract in north Bengaluru, said PTI.

He claimed profitability had completely reversed from the previous year, owing to significant sales growth and increased operating efficiencies. This vertical launched a home textile for the domestic market under the Hill & Glade brand during the year, as per PTI said.

The pulp and paper industry, according to Laddha, would continue to see good demand across all categories led by the tissue segment with some relief in cinemas, theatres, restaurants, and entertainment parks. Traders have also begun to accumulate channel inventories, indicating an increase in demand, he added.

(With the inputs of PTI)