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Our Bureau

Mumbai , Jan. 24

DESPITE a huge rise in raw material costs and power and fuel costs, Century Textiles net profit rose 254 per cent to Rs 31.86 crore (Rs 9 crore) in the quarter ended December 31, 2004, over the year-ago period.

Part of the reason perhaps is the lowering of interest costs - 36.45 per cent lower at 10.86 crore, which offset the 22 per cent increase in raw material costs and 17 per cent increase in power and fuel costs over the corresponding previous quarter.

Net sales were up at Rs 649.19 crore (Rs 549.77 crore). Other income also rose to Rs 38.95 crore (Rs 25.12 crore).

Segment-wise, while net sales for the textiles division was up to Rs 214.63 crore (Rs 204.92 crore), cement revenues rose almost 30 per cent to Rs 287.68 and pulp and paper revenues rose 21 per cent to Rs 123.43 for the same period.

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