Categories Earnings, Industrials

Century Textiles & Industries Ltd. (NSE: CENTURYTEX): Q3FY23 Results Out; Total Income rise 10% YoY

Century Textiles & Industries Ltd. is an Indian conglomerate with diverse business interests, including textiles, cement, pulp and paper, and real estate. The company’s textile segment produces a wide range of products, including denim, yarn, and cotton. Its cement business operates under the brand name “Birla Gold” and has a significant presence in the western, eastern, and central regions of India. Century Textiles & Industries Ltd. is also involved in the manufacture of pulp and paper products and has a significant presence in the real estate industry. The company is headquartered in Mumbai, India.

Century Textiles & Industries Limited reported strong performance in its Pulp & Paper business during Q3FY23. Sales in this segment increased by 18% to Rs 863 crore as compared to the same period last year. Sales realization increased by 38%, and EBITDA increased by 10% to Rs 100 crore. The plant achieved an overall capacity utilization of 93%.

The Real Estate business of the company also performed well in Q3FY23. Robust sales were reported across all projects in MMR, NCR, and Bengaluru. The Birla Niyaara project in MMR was the largest selling project in the calendar year, with sales of over Rs 1900 crore. Project execution is in full swing at all launched projects with a focus on safety, quality, and timely delivery. Commercial assets Birla Aurora and Birla Centurion continue to generate stable rentals.

However, the Textiles business saw a decline in turnover of 10% to Rs 237 crore in Q3FY23 compared to the same period last year. Capacity utilization also declined from 95% to 88%. The company reported a net profit of Rs 8.72 crore for Q3FY23 compared to Rs 71.58 crore in the previous quarter, and EPS decreased from Rs 6.41 to Rs 0.78.

Overall, Century Textiles & Industries Limited had a mixed performance in Q3FY23, with strong performance in Pulp & Paper and Real Estate businesses but a decline in the Textiles business.

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