Century Textiles declines after reporting weak Q4 results

Century Textiles & Industries dropped 3.17% to Rs 618.30 at 15:00 IST on BSE after the company's net profit dropped 22.43% to Rs 9.16 crore on 2.38% drop in total income to Rs 2059.28 crore in Q4 March 2016 over Q4 MArch 2015.

The result was announced during market hours today, 3 May 2016.

Meanwhile, the BSE Sensex was down 196.42 points, or 0.8%, to 25,234.52.

On BSE, so far 2.31 lakh shares were traded in the counter, compared with an average volume of 1.96 lakh shares in the past one quarter. The stock hit a high of Rs 644.80 and a low of Rs 613.60 so far during the day. The stock hit a 52-week high of Rs 754 on 4 May 2015. The stock hit a 52-week low of Rs 403.80 on 29 February 2016. The stock had outperformed the market over the past one month till 2 May 2016, gaining 18.21% compared with 0.66% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 26.87% as against Sensex's 3.66% gains.

The mid-cap company has an equity capital of Rs 111.70 crore. Face value per share is Rs 10.

Century Textiles & Industries' board of directors recommended dividend of Rs 5.50 per share for the year ended 31 March 2016 (FY 2016).

Century Textiles & Industries is a trendsetter in cotton textiles and also has a remarkable presence in the yarn, denim, viscose filament rayon yarn, tyre cords, caustic soda, sulphuric acid, salt, cement, and pulp and paper industries.

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