28 April 2022, Mumbai:
Century Textiles plans to focus on offering new products after considering retail price points. It also plans to focus on blending manmade fibers and expanding into new markets such as Australia, Saudi Arabia, and Russia.
ALSO READ Century Textiles clocks Rs 54 cr Net Income on Rs 998 cr Revenue in Q2
In Q4 FY22 Century Textiles & Industries’ consolidated net profit increased to Rs 84.43 crore as against a net loss of Rs 4.89 crore in Q4 FY21.
Net sales were up 44.62 percent to Rs 1,186.22 crore during the quarter over Rs 820.21 crore in Q4 FY21. Consolidated EBITDA grew 66.25 percent to Rs 133 crore in Q4 FY22 as against Rs 80 crore in Q4 FY21.
RELEVANT NEWS Century Textiles’ revenues dip by 1.34%
Century Textiles and Industries’ textiles annual turnover grew 54 percent Y-o-Y during Q4 FY22 backed by strong sales growth and improved operational efficiencies.
The company’s capacity utilization reached 97 percent during the quarter as compared to 92 percent in Q4 FY21.
The company also launched home textile products for the domestic market under the brand name 'Hill & Glade'.
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