Banking and finance

Century Textiles Q2 results: Co reports Rs 54 cr net income

Mumbai: Regardless of the second wave impacting enterprise actions, & Industries on Thursday reported a web earnings of Rs 54 crore and a income of Rs 998 crore on a standalone foundation within the quarter ended September. It had posted a web earnings of Rs 5 crore and and a income of Rs 600 crore within the year-ago interval, which was ravaged by the primary wave of the pandemic.

The Birla group firm attributed the sturdy efficiency to increased working effectivity and turnaround in market sentiments.

Regardless of disruptions attributable to the pandemic, its Managing Director J C Laddha mentioned they might ship resilient efficiency because the manufacturing companies posted glorious outcomes on account of more healthy enterprise atmosphere, strong productiveness and monetary prudence.

The pulp and paper vertical noticed the all time quarter when it comes to manufacturing and gross sales largely supported by increased quantity from value-added merchandise and new merchandise.

The textile enterprise revived strongly on the again of sturdy home demand, whereas the actual property has sturdy response to the phase-II launch of the Kalyan venture.

The pulp and paper enterprise noticed the best throughput with the enterprise reaching at 101 per cent capability utilisation, whereas gross sales grew 64 per cent as there was a marked enchancment in demand for the writing and printing paper section.

The realty enterprise noticed strong collections in any respect tasks on the again of sturdy buyer join and outreach.

Through the quarter, it launched the second part of the Birla Vanya in Kalyan which has obtained sturdy response.

The corporate’s two business property, Birla Aurora and Birla Centurion, proceed to generate steady leases, he mentioned.

The textile enterprise bounced again with the crops working at 91 per cent capability in contrast with 68 per cent final 12 months, and gross sales grew 109 per cent over final 12 months.

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