Finolex Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 04, 2023 at 09:48 am
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Finolex Industries Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 11,247.6 million compared to INR 10,047.3 million a year ago. Revenue was INR 11,525.8 million compared to INR 10,241 million a year ago. Net income was INR 795.4 million compared to INR 1,774.3 million a year ago. Basic earnings per share from continuing operations was INR 1.28 compared to INR 2.86 a year ago. Diluted earnings per share from continuing operations was INR 1.28 compared to INR 2.86 a year ago.
For the nine months, the company reported sales was INR 32,559.9 million compared to INR 30,527.6 million a year ago. Revenue was INR 33,477.1 million compared to INR 31,158.9 million a year ago. Net income was INR 833.8 million compared to INR 5,562.2 million a year ago. Basic earnings per share from continuing operations was INR 1.34 compared to INR 8.96 a year ago. Diluted earnings per share from continuing operations was INR 1.34 compared to INR 8.96 a year ago.
Finolex Industries Limited is an India-based backward-integrated manufacturer of polyvinyl chloride (PVC) pipes and fittings. The Company is engaged in manufacturing of micro irrigation systems, fittings, accessories and a range of irrigation components. The Company operates through two segments: PVC and PVC pipes and fittings. It offers a wide range of products in various sizes, pressure classes and diameters suitable for diversified applications across the two main categories: plumbing sanitation and agriculture products. Its plumbing pipes and fittings products include American Society for Testing and Materials (ASTM) pipes and fittings; chlorinated polyvinyl chloride (CPVC) pipes and fittings; soil, waste and rainwater pipe (SWR) pipes and fittings; sewerage pipes, and solvent cement, lubricant and primer. The Company's agriculture pipes and fittings products include agriculture pipes and fittings, casing pipes, column pipes, and solvent cement and lubricant.
FINOLEX INDUSTRIES LIMITED 
