Century Textiles and Industries Q4 profit declines 44% to Rs 80 cr

Century Textiles and Industries on Wednesday reported 43.94 per cent decline in consolidated net profit at Rs 79.88 crore for March quarter 2019-20 due to the impact of Covid-19.

The company logged a profit ofRs 142.50 crore in January-March period a year ago, Century Textiles and Industries Ltd (CTIL) said in a BSE filing.

Revenue from operationswas at Rs 770.03 crore, down 8.67 per cent as compared to Rs843.14 crore in the year-ago quarter.

The Covid-19 pandemic in the last month of the FY2020 has affected all the businesses of CTlL, impacting the overall revenue adversely, Managing Director JC Laddha said.
 

 

Total expenses were at Rs 795.02 crore in March quarter of the last fiscal as against Rs 780.38 crore in the year-ago period.

For 2019-20, the company recorded a net profit of Rs 378.08 crore. It was Rs 499.47 crore in the previous year.

Revenue from operations in the fiscal was Rs 3,331.40 crore, down 8.30 per cent from Rs 3,633.26 crore in 2018-19.

Shares of the company on Wednesday settled at Rs314.60 apiece on BSE, up0.75 per cent from the previous close.