“The Pulp and Paper business saw robust sales, despite the impact on demand due to the new Covid variant towards the end of the quarter”, says JC Laddha, Managing Director, Century Textiles & Industries.
February 3, 2022
The revenues from the Pulp & Paper segment of Century Textile and Industries, i.e. Century Pulp & Paper soared 49.35 percent to INR 730.73 crore in the Q3 FY22 as compared to the corresponding period in the last year, i.e. INR 489.27 crore in Q3 FY21.
Commenting on the Q3 FY22 results, JC Laddha, Managing Director, Century Textiles and Industries Limited, said, “Century Textiles and Industries continues to demonstrate resilience across its diversified businesses on the back of the improved market sentiment, efficient business operations, and adoption of best industry practices. The Pulp and Paper business saw robust sales, despite the impact on demand due to the new Covid variant towards the end of the quarter.”
The profit for the pulp & paper business stood at INR 59.77 crores for the period of Q3 whereas, in the same period of the previous year, the profit was reported to be INR 29.04 crores.
Also Read: Century Pulp and Paper: Diversifying into Consumer Brands with Aim to Create Awareness on Hygiene
Presenting its outlook on the pulp and paper industry, the company says that there is a high probability of the spreading of the third wave of COVID-19 in Q4 FY22 which has already started impacting order flow. The demand in the industry is experiencing a slowdown. Also, the major tissue consumption centres are operational with restricted guidelines, curtailing the demand in the tissue paper segment. The domestic and export prospects in the board segment are expected to remain good.