CENTURY TEXTILES
This stalwart of a company has presented a very good set of numbers for Q3FY17. Led mainly by a robust performance by its cement and paper segment, the company ended the quarter with a net profit at Rs.14 crore v/s loss of Rs.8.5 crore in previous Q3. QoQ, the profit is down 66% but this was because in Q2 the bottomline was supported by a higher other income and tax write back of Rs.11 crore.
Total income for the current Q3 was down 7% (YoY) at Rs.1962 crore but a 10% drop in costs helped shore up the EBITDA, which at Rs.214 crore was up 36%. Margins improved from 7.43% to 10.91%.
This time around, other income was down 65% and interest cost was down 5%.
In terms of segment-wise breakup, 50% of the revenue comes from the cement unit and its topline fell 16% but better realisations helped the EBIT, which was up by a huge 242%. Textiles, which was its mainfray when it began operations, now contributes 20% to revenue and its topline was down 11.5% and EBIT was down 13%. The Paper unit, contributing 26% to total revenue did well – topline was up 5% and EBIT rose 7%. Realty showed a 150% rise in revenue but EBIT slipped 40%.
The company’s equity is at Rs.111.69 crore and 9MFY17 net profit is at Rs.56 crore v/s loss of Rs.55 crore in FY16.
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