India: Kumar Mangalam Birla, Chairman of the US$40bn Aditya Birla Group, has been appointed as Vice Chairman of Century Textiles and Industries. KM Birla is grandson of 94-year-old BK Birla, who is the Chairman of Century Textiles. In BK Birla's absence, KM Birla was chairing the board meetings.
For the quarter that ended on 30 September 2015, Century Textiles posted a net loss of US$3.69m compared to a net profit of US$117,422 for the same quarter of 2014. Total income grew from US$262m in the 2014 quarter to US$299m in 2015.