• PAGE ONE
• INDEX
• HOME

Century Textiles net jumps 56%

MUMBAI: Century Textiles and Industries Ltd has reported a 56 per cent increase in net profit at Rs 53.95 crore for the year ended March 31, 2001 against Rs 34.52 crore in the same period the previous year.

A dividend of Re 1 has been recommended against Rs 0.6 in the previous year.

Net Sales was at Rs 2,269.19 crore (Rs 2,109.68 crore). Gross profit stood at Rs 145.82 crore (Rs 95.15 crore).

Other income was at Rs 89.80 crore (Rs 86.41 crore). This includes surplus on sale of ships at Rs 3.14 crore (Rs 17.84 crore) and profit on sale of shares of Centak Chemicals Ltd at amounted Rs 14.90 crore. Total expenditure stood at Rs 2,024.36 crore (R s 1,933.19 crore).

Net interest payment was at Rs 188.81 crore (Rs 174.39 crore).

Depreciation was at Rs 80.30 crore (Rs 74.34 crore) and a provision for leave encashment for prior years amounted to Rs 5.57 crore.

Provision for taxation was at Rs 6 crore (0.27 crore). Reserves of the company excluding revaluation reserves stood at Rs 795.30 crore (Rs 757.87 crore).

Efforts made by the company to sell Manikgarh Cement division has not materialised and the matter has been deferred.

The performance of the company had improved through higher price realisation in some of the units of the company, particularly in cement and paper, a company release said.

With regard to textiles, in view of the adverse market conditions in international and domestic markets, production was being regulated and would be reduced in accordance with demand, the release added. -- Our Bureau