Electrosteel Castings Limited Reports Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended December 31, 2016
January 28, 2017 at 03:00 am
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Electrosteel Castings Limited reported unaudited standalone earnings results for third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 4,419.787 million against INR 4,881.32 million a year ago. Profit from operations before other income and finance costs and exceptional items were INR 649.484 million against INR 617.421 million a year ago. Profit from ordinary activities after finance cost but before tax was INR 361.907 million against INR 238.882 million a year ago. Net profit from ordinary activities after tax was INR 240.149 million against net profit of INR 181.173 million a year ago. Basic and diluted per share was INR 0.67 against basic and diluted per share of INR 0.51 a year ago.
For the nine months, the company reported net sales/income from operations (net of excise duty) of INR 12,841.618 million against INR 13,963.38 million a year ago. Profit from operations before other income and finance costs and exceptional items wee INR 1,900.702 million against INR 1,313.484 million a year ago. Profit from ordinary activities after finance cost but before tax was INR 957.692 million against INR 379.455 million a year ago. Net profit from ordinary activities after tax was INR 662.201 million against net profit of INR 311.067 million a year ago. Basic and diluted per share was INR 1.86 against basic and diluted per share of INR 0.87 a year ago.
Electrosteel Castings Limited is an India-based pipeline solution provider. The Company is engaged in the business of manufacturing ductile iron (DI) pipes, ductile iron fittings (DIF) and cast iron (CI) pipes. Its products also include ductile iron flange pipes, restrained joint pipes, cement and ferro alloys. The Company operates through pipes and fittings segment. The Company's products DI pipes and DIF are used for various applications, such as water transmission and distribution, desalination plants, storm water drainages and sewage treatment plants. The Companyâs manufacturing facilities are spread across five locations in India. It caters to a customer base spread around the Indian subcontinent, Europe, North and South America, Southeast Asia, Middle East and Africa. Its subsidiaries include Electrosteel Castings (UK) Limited, Electrosteel Algerie SPA, Electrosteel Doha for Trading LLC, Electrosteel Castings Gulf FZE, and Electrosteel Brasil Ltda. Tubos e Conexoes Duteis.