Century Textiles' profit up 84 p.c.

Century Textiles and Industries has posted a 83.68 per cent growth in net profit at Rs. 12.27 crores for the first quarter ended June 30, 2001, compared to Rs. 6.68 crores in corresponding period of previous fiscal.

The cement division has made a significant contribution to profitability.

Net sales have risen by 11.64 per cent at Rs. 621.97 crores in Q1 against Rs. 557.11 crores in the quarter ended June 30, 2000.

Other income was at Rs. 12.65 crores against Rs. 14.12 crores in the comparable period. Depreciation charges increased from Rs. 17.72 crores to Rs. 38.11 crores.

While the rayon division reported improved performance, the textile division was affected due to adverse conditions in export and domestic markets and higher cotton prices.

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Section  : Business
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