Century Textiles Q1 net zooms multi-fold to Rs 120 cr

Century Textiles & Industries on Tuesday reported a multi-fold jump in its net profit at Rs 120.24 crore for the first quarter ended June 30, mainly on account of lower expenses.

The company had posted a net profit of Rs 6.46 crore during the same period previous fiscal, Century Textiles & Industries said in a BSE filing.

Total income during the quarter under review stood at Rs 2,342.76 crore, as against Rs 2,320.34 crore in the year-ago period.

The company said it has recognised an income of Rs 28.46 crore on account of revision in estimates of future cash flows based on actual realisation of government grants.

Total expenses during the period was Rs 2,159.46 crore compared to Rs 2,308.01 crore a year ago, down 6.43 per cent.

The stock was trading 5.05 per cent up at Rs 1,285.65 on BSE.