Century Textiles Q2 loss at Rs 24 crore; Kumar Mangalam Birla becomes VC

Century Textiles and Industries today reported a standalone loss of Rs 24.26 crore in the second quarter ended September 30, due to higher finance cost.

The company had posted a net profit of Rs 77 lakh in the same quarter last fiscal.

Century Textiles also announced the appointment of Kumar Mangalam Birla as its Vice Chairman with immediate effect.

Net sales during the period under review stood at Rs 1,877.35 crore as against Rs 1,653.63 crore in the year-ago period, Century Textiles and Industries said in a BSE filing.

The company said finance cost during the period under review was at Rs 148.11 crore compared with Rs 109.26 crore.

Revenue from textiles segment was at Rs 486.66 crore compared with Rs 421.21 crore in the year-ago period. Cement category posted revenue of Rs 942.18 crore as against Rs 867.04 crore, the company said.

Shares of Century Textiles were trading at Rs 556.25 in the afternoon trade, up 1.35 per cent from the previous close on BSE.