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Losses in textile division of Century grows
Nov '08
Century Textiles and Industries recently released its results for the period June-Sept 2008-09. The company has seen a fall of 57% in profits from that in the same quarter of the last fiscal.

Sales though have grown by 11 percent to reach Rs 8540 million from Rs 7894 million, profits have shrunk to just Rs 285.5 million in the same period from Rs 663.7 million in the period under comparison.

Expenditure on raw material grew by 25% to Rs 2120 million while the company also posted an exceptional profit of Rs 330 million from sales of assets of its Mumbai mill.

The textile division has reported growth of a nominal 4% in growing from Rs 1666.1 million in the previous quarter to Rs 1747.9 million in the quarter under consideration while losses after depreciation but before interest and exceptional items has risen from Rs 66.6 million to Rs 283.7 million.

Click here to view detailed results.

Fibre2fashion News Desk - India

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