Century Textiles & Industries has posted a net loss of Rs 29.01 crores for the quarter ended June 30. For the same period last year, its net profit was Rs 66.49 crores. In the quarter ended June 2015, sales shot up 5.59 per cent to Rs 1,944.72 crores, while in the previous quarter ended June 2014, it was Rs 1,841.83 crores. The textile division clocked in a turnover of Rs 445.32 crores in Q1 FY16 as against Rs 429.89 crores in the same period last year.

It may be recalled that the Competition Commission of India (CCI) had upheld the complaint of alleged cartelisation against cement manufacturing companies including Century Textiles. Century Textiles had to pay a penalty of Rs 274.02 crores, imposed by CCI. Century had meanwhile filed an appeal against the order before the Competition Appellate Tribunal (COMPAT). The COMPAT granted a stay on the CCI order on condition that the company deposits 10 per cent of the penalty, which amounts to Rs 27.40 crores. The company deposited the amounte during 2013-14.