Century Textiles and Industries reported a 68.8 percent year-on-year (YoY) rise in the consolidated profit at Rs 145.27 cr for the Q4 FY23. The company posted a profit of Rs 86.07 cr in the corresponding quarter of the previous financial year.
The company, known for textile and paper manufacturing and export, has reported revenue from operations of Rs 1,208.54 cr in the reported quarter against Rs 1,210.72 cr posted last year.
Its turnover of the textiles business declined by 6 percent to Rs 222 cr in Q4FY23 against Rs 237 cr posted in Q3FY23. Capacity utilisation in Q4 FY23 was 89 percent as compared to 97 percent in Q4 FY22.
The company expects the macroeconomic headwinds to subside in the second half of FY24. Macroeconomic headwinds are likely to subside due to the upcoming elections in two of the largest democracies in the world-the US and India. It expects the overall market sentiment to improve.
