Harrisons Malayalam Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 10, 2023 at 08:32 am
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Harrisons Malayalam 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 1,320.62 million compared to INR 1,187 million a year ago. Revenue was INR 1,336.13 million compared to INR 1,198.77 million a year ago. Net income was INR 67.28 million compared to INR 92.49 million a year ago. Basic earnings per share from continuing operations was INR 3.65 compared to INR 5.02 a year ago. Diluted earnings per share from continuing operations was INR 3.65 compared to INR 5.02 a year ago.
For the nine months, sales was INR 3,688.45 million compared to INR 3,424.85 million a year ago. Revenue was INR 3,734.36 million compared to INR 3,457.19 million a year ago. Net income was INR 173.25 million compared to INR 150.13 million a year ago. Basic earnings per share from continuing operations was INR 9.39 compared to INR 8.14 a year ago. Diluted earnings per share from continuing operations was INR 9.39 compared to INR 8.14 a year ago.
Harrisons Malayalam Limited is an India-based company, which is principally engaged in plantations having tea and rubber estates in Kerala and Tamil Nadu. The Company has established and run plantations for tea, rubber, cocoa, coffee and a variety of spices. The Company cultivates approximately 14,000 hectares (ha) and processes produce from other farmlands in its neighborhood. Its primary products are rubber, tea and pineapple, which cultivates on approximately 7,400 ha, 6,000 ha and 1000 ha respectively. It produces approximately 9,000 tons of Rubber, 20,000 tons of tea and 25,000 tons of Pineapple. The Company also produces smaller quantities of a variety of other exotic horticultural crops, such as areca nut, banana, cardamom, cocoa, coffee, coconut, pepper and vanilla, as well as limited quantities of organic tea and spices. Its operations are spread over 20 estates, eight rubber factories and twelve tea factories along with several blending and processing units.