Century Textiles: Deferring depreciation to boost bottomline
Century Textiles and Industries Limited has posted a marginal net profit of Rs 67 m during the quarter ended June 2000. The company has been able to stay in the black largely due to the non provision of depreciation with respect to certain plants. This has reduced the depreciation burden by Rs 192.4 m.
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (eoy) (m)
Diluted number of shares
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The company’s operating profitability continues to deteriorate largely due to a significant fall in cement sector realisation s during the first quarter. However, the recovery in prices in recent weeks is likely to benefit the company.
The company currently trades at Rs 36, implying a P/e multiple of 50x.
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