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Century Textiles & Industries Ltd. Reports Q1 Results, Approves Debt Fundraising

Mumbai, July 16: Century Textiles and Industries Ltd. (CTIL) today released its unaudited standalone and consolidated financial results for the first quarter of the fiscal year 2024-25, ending June 30, 2024. The company's board of directors also approved a plan to raise up to ₹1,000 crores through the issuance of non-convertible debentures on a private placement basis.

Financial Highlights (Q1 FY24-25):

• Standalone:
  • Total income: ₹909.13 crores
  • Net profit from continuing operations: ₹40.86 crores
  • Net loss from discontinued operations: ₹10.59 crores
  • Total comprehensive income: ₹96.35 crores
• Consolidated:
  • Total income: ₹1,167.59 crores
  • Net profit from continuing operations: ₹27.94 crores
  • Net loss from discontinued operations: ₹10.59 crores
  • Total comprehensive income: ₹83.43 crores

Debt Fundraising:

The board's decision to raise funds through debentures is subject to shareholder and regulatory approvals. The company aims to utilize the proceeds for general corporate purposes and to support its growth initiatives.

Segment-wise Performance:

The company provided a detailed segment-wise breakdown of its revenue, results, and assets. Notably, the "Real Estate" segment witnessed significant growth in revenue compared to the previous year.

Key Points:

• CTIL's Q1 performance was influenced by the discontinuation of operations at its Bharuch Textile Division.
• The "Pulp and Paper" segment remains a major contributor to the company's revenue.
• The company continues to explore opportunities in the real estate sector.

Investor Information: