Century Textiles and Industries on Wednesday announced its April-June quarter results for fiscal year 2023-24.
The company reported a net loss of Rs 5.88 crore when compared to the profit of Rs 46.3 crore it reported in the corresponding year.
The Aditya Birla Group owned subsidy projected it’s revenue from operations for the first quarter at Rs 1,117.3 crore, which is a decline of 6.1 percent, compared to Rs 1,189.8 crore in the same period a year ago.
The earnings before interest, taxes, depreciation and amortisation (EBITDA) of the textiles and paper manufacturer for the June quarter stood at Rs 126.3 crore, reporting a decline of 9.2 percent when compared to Rs 139 crore it reported a year ago.
The company’s EBITDA margin in the quarter under review stood at 11.3 percent when compared to the previous year were the margin stood at 11.7 percent.
“The company has maintained its operational performance while remaining steadfast in its commitment to sustainability. The Pulp and Paper business performed very well with margins bolstered by decreasing input costs and effective cost reduction initiatives. The Real Estate business, riding the upcycle in the sector, has acquired three significant projects in three metro cities. Meanwhile, our Textiles business underwent strategic restructuring of primary processes to align with market dynamics,” said R. K. Oalmia – Managing Director, Century Textiles and Industries Limited (CTIL).
