Laxmi Organic Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 24, 2023 at 10:21 am
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Laxmi Organic 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 6,546.44 million compared to INR 8,598.78 million a year ago. Revenue was INR 6,578.86 million compared to INR 8,618.98 million a year ago. Net income was INR 272.28 million compared to INR 705.41 million a year ago. Basic earnings per share from continuing operations was INR 1.03 compared to INR 2.68 a year ago. Diluted earnings per share from continuing operations was INR 1.02 compared to INR 2.63 a year ago.
For the nine months, sales was INR 20,634.53 million compared to INR 22,043.24 million a year ago. Revenue was INR 20,716.68 million compared to INR 22,172.96 million a year ago. Net income was INR 1,002.55 million compared to INR 1,874.33 million a year ago. Basic earnings per share from continuing operations was INR 3.78 compared to INR 7.11 a year ago. Diluted earnings per share from continuing operations was INR 3.75 compared to INR 7 a year ago.
Laxmi Organic Industries Limited is an India-based company, which is engaged in the business of specialty chemicals. The Company manufactures ethyl acetate, acetic acid and diketene derivative products (DDP). Its business segments include Acetyl Intermediates and Speciality Intermediates. The Acetyl Intermediates segment produces a range of acetyl products, including Bulk Solvents and Aldehydes. The Company manufactures a range of Acetyl products, including bulk solvents and aldehydes. Its acetyl products have applications in diverse industries, such as pharmaceutical formulations, printing inks, adhesives, coatings. It is also a manufacturer of Speciality Intermediates, such as Ketene & Diketene derivatives, including Esters, Amides and Arylides. Its Speciality Intermediates has applications in pharmaceuticals, synthesis and manufacturing of agrochemicals, pigments, and others. It also offers custom synthesis of Diketene Derivative Chemicals and Crop and Life Science Intermediates.