INDIA: Textile Q3 earnings fall at Century
- Q3 textile earnings fall 23.3%
- Textile sales down 5.7%
- Consolidated earnings at INR1.58bn
Indian manufacturer Century Textiles saw earnings in its textile division fall in the third quarter, hurt by a decline in sales.
In the quarter ended 31 December, profits fell 23.3% to INR353.4m (US$5.6m) from INR437m a year earlier. Sales in the division were down 5.7% to INR4.11bn.
Century Textiles' textile division manufactures yarn, denim, rayon, and tyre yarn.
Consolidated profits, which includes the company's cement, pulp and paper divisions, moved to INR1.58bn from a loss of INR29.19bn a year earlier.
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