Himatsingka Seide Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 11, 2023 at 03:37 am
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Himatsingka Seide 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 7,367.8 million compared to INR 7,907.4 million a year ago. Revenue was INR 7,500.4 million compared to INR 7,926.8 million a year ago. Net income was INR 22 million compared to INR 270.5 million a year ago. Basic earnings per share from continuing operations was INR 0.22 compared to INR 2.75 a year ago. Diluted earnings per share from continuing operations was INR 0.22 compared to INR 2.75 a year ago.
For the nine months, sales was INR 19,880.9 million compared to INR 24,191.7 million a year ago. Revenue was INR 20,687.4 million compared to INR 24,287.7 million a year ago. Net loss was INR 864.2 million compared to net income of INR 1,327.8 million a year ago. Basic loss per share from continuing operations was INR 8.78 compared to basic earnings per share from continuing operations of INR 13.49 a year ago. Diluted loss per share from continuing operations was INR 8.78 compared to diluted earnings per share from continuing operations of INR 13.49 a year ago.
Himatsingka Seide Limited is an India-based vertically integrated textile company. The Company designs, develops, manufactures, distributes, and retails a suite of textile products. The Company has two manufacturing facilities in India and has retail and distribution businesses across North America, Europe, and Asia. It is also involved in spinning, weaving, and finishing textiles, and manufacturing of other textiles. The Company offers made-up bedding products, drapery and upholstery fabrics, towels, and cotton yarn. Its cotton brands portfolio comprises Pimacott, Gizacott, HomeGrown Cotton and Organicott. Its global fashion brands, comprising Calvin Klein, Tommy Hilfiger and Kate Spade New York. The Companyâs solutions include bedding solutions, bath solutions, yarn and fiber solutions and drapery and upholstery solutions. Its subsidiaries include Himatsingka Wovens Private Limited, Himatsingka Holdings NA Inc, and Himatsingka America Inc.