The Hindu Business Line : Century Tex posts Rs 42.54-cr net in Q4

CENTURY Textiles and Industries has reported a flat net profit in the March 2005 quarter of the fiscal. However, it showed a substantial improvement in the full year's profitability due to the better performance of its Cement Division.

The company's net profit remained stagnant at Rs 42.54 crore for the quarter ended March 31, 2005 over Rs 42.38 crore for the quarter ended March 31, 2004.

Net sales increased to Rs 669.77 crore (Rs 621.94 crore).

For the year ended March 31, 2005, the company's net profit increased 43 per cent to Rs 109.63 crore (Rs 76.59 crore). Net sales for the year rose to Rs 2,456.09 crore (Rs 2,196.01 crore). Exports accounted for Rs 391 crore — 16 per cent of net sales.

The board has recommended a dividend of 25 per cent on paid-up equity share capital for the year ended March 31, 2005, against 20 per cent paid in the previous year.

For 2004-05, the company has decided on expansion of denim fabric capacity by 10 million metres per annum at a total outlay of Rs 140 crore, including a 4 MW power generating set, which is expected to be operational by last quarter of 2005-06.

The company is also expanding the cement manufacturing capacity to 7.8 million tonnes per annum from 6.3 mtpa earlier for a total outlay of Rs 150 crore. The added capacity is expected to be operational by the third quarter of 2006-07.

It is also investing Rs 385 crore in expansion of its paper capacity by 211 tonnes per day.

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