Century Textiles & Industries fell 2.10% to Rs 308 after consolidated net profit dropped 32.1% to Rs 82.11 crore on a 8.7% fall in net sales to Rs 770.03 crore in Q4 March 2020 over Q4 March 2019.
Profit before tax stood at Rs 3.60 crore in Q4 FY20, down by 98.3% from Rs 210.63 crore in Q4 FY19.
The company's interest cost surged 65.4% to Rs 25.16 crore while the depreciation costs rose 22.2% to Rs 58.14 crore in the fourth quarter as compared to the same period last year.
Consolidated net profit fell 94% to Rs 365.25 crore on 8.3% decline in net sales to Rs 3,331.40 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19).
The company said the COVID 19 pandemic in the last month of the FY 2020 has affected all the businesses of Century Textiles and Industries, impacting the overall revenue adversely. Though the scenario is grim currently, it is expected to show signs of revival from the second half of this financial year across the businesses. All businesses have taken steps to ride on opportunities during the Pandemic.
Century Textiles and Industries has interests in diverse industries. Currently, the business house is a trendsetter in cotton textile and also has a remarkable presence in pulp & paper and real estate sectors.
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