Century Textiles and Industries reported 47.1% decline in consolidated net profit (continuing operations) to Rs 27.94 crore in Q1 FY25 as compared with Rs 52.82 crore in Q1 FY24.
Revenue from operations increased 28.36% YoY to Rs 1,139.67 crore in Q1 FY25.
Profit before tax (PBT) fell 41.4% to Rs 50.13 crore in Q1 FY25 as compared with Rs 85.55 crore in Q1 FY24.
During the quarter, EBITDA stood at Rs 125 crore, de-registering the growth of 15% as compared with Rs 147 crore in Q1 FY24. EBITDA margin fell to 11% in Q1 FY25 as against 16.6% in Q1 FY24.
On segmental front, revenue from real estate surged to Rs 338 crore from Rs 37 crore posted in corresponding quarter last year. It reported positive EBITDA of Rs 43 crore in the quarter ended 30 June 2024 as compared with negative EBITDA of Rs 12 crore in the quarter ended 30 June 2024.
Booking value stood at Rs 262 crore in Q4 FY24. Area sold was 0.7 lakh square feet during the period under review.
Revenue from Pulp & paper business fell 6% YoY to Rs 786 crore in Q1 FY25. Production and sales volumes increased by 7% YoY and 12%YoY respectively. Sales volumes were lower by 8% QoQ with general elections impacting tender orders from government.
In outlook front, the company said that seasonal factors are expected to moderately revive writing and printing paper demand in Q2. With upcoming festival season as well as FMCG and Pharma segment picking up, Board demand is likely to improve in Q2. Also, Imports are expected to remain subdued due to high ocean freight and issues with container availability. Export demand from Europe, USA and UK markets is likely to be impacted by high ocean freight.
Meanwhile, the companys wholly owned subsidiary, Birla Estate to expand its footprint in NCR region with a strategic land acquisition in Sector 71, Gurugram. This 5-acre parcel offers a development potential of around 10 lakh square feet and is expected to generate revenue of over more than Rs 1,400 crore with aesthetically designed residences.
K. T. Jithendran, MD & CEO at Birla Estates said, Gurugram has been a pivotal market for us from the outset. The real estate potential in this micro-market is immense and reinforces our strong focus in the Delhi-NCR region. With this acquisition, we aim to cater to homebuyers seeking exclusivity and distinctive living experiences. At Birla Estates, our commitment transcends luxury; our ethos is to embrace a vision of residences that embody a legacy of dedication and excellence.
Century Textiles & Industries has presence in cotton textiles, pulp & paper and real estate sectors.
The counter rallied 5.29% to Rs 2,211.90 on the BSE.
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First Published: Jul 16 2024 | 3:34 PM IST
