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Century Textiles and Industries sees its textiles’ turnover rise by 30%

Thanks to robust sales, leading textile company Century Textiles and Industries achieved 78 per cent jump in net income at Rs. 63 crore in the first quarter that ended 30 June 2022.

The AV Birla Group company is into textiles, pulp and paper products and realty. Its overall sales grew to Rs. 1,170 crore–at a growth of 41 per cent compared to the year-ago period.

Notably, the textiles business of the company saw impressive growth due to good demand for fabrics for apparel.

The company witnessed the turnover from its textiles vertical increase by nearly 30 per cent to Rs. 278.51 crore on the back of higher capacity utilisation at 96 per cent.

Though the company’s profit was reduced in Q1, FY ’22, it made a profit of Rs. 4.11 crore, while in the Q1 of FY ’23, the same was Rs. 2.80 crore.

JC Laddha, MD of the company, attributed the strong numbers to the high operational efficiency and improved market demand.

The company is known for its quality suiting and shirting fabrics and home furnishing products. It works with some of the leading global brands and retailers.

Also Read: Indian textile conglomerate Vardhman Textiles’ top line up by 44.25% in Q1, FY ’23

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