An adverse market scenario coupled with poor demand has forced Century Textiles & Industries to halve production in its Madhya Pradesh facility, stated the company in a disclosure to Bombay Stock Exchange. However the company indicated that this is only a temporary measure.
Century Textiles, part of the B K Birla group, saw its net profit plunge 68 per cent in the third quarter of this fiscal with a loss of Rs 240 million.
— IndiaRetailing Bureau
