Maharashtra Seamless Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
January 23, 2023 at 03:11 am
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Maharashtra Seamless 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 13,384.9 million compared to INR 11,394 million a year ago. Revenue was INR 13,566.4 million compared to INR 11,618.9 million a year ago. Net income was INR 1,717.6 million compared to INR 946.8 million a year ago. Basic earnings per share from continuing operations was INR 12.82 compared to INR 7.07 a year ago.
For the nine months, sales was INR 40,836.4 million compared to INR 27,813 million a year ago. Revenue was INR 41,451.7 million compared to INR 28,672 million a year ago. Net income was INR 5,015.7 million compared to INR 2,814 million a year ago. Basic earnings per share from continuing operations was INR 37.43 compared to INR 21 a year ago.
Maharashtra Seamless Limited is India-based company, which is engaged in manufacturing steel pipes and tubes. The Company operates through three segments: Steel Pipes & Tubes, Power Electricity, and RIG. The Company manufactures seamless pipes and tubes with a product range using CPE technology. The Company offers electric resistance welding (ERW) pipes, including mild steel (MS) and galvanized pipes, American Petroleum Institute (API) line pipes and oil country tubular goods (OTCG) casing tubing; seamless pipes, such as hot finished pipes and tubes, cold drawn tubes, boiler tubes, OTCG casing tubing and OTCG drill pipe; coated pipes, including three-layer polyethylene coating, fusion-bonded epoxy coating, internal coating and three-layer polypropylene, and pipe fittings. The Company has also diversified into renewable power generation and rig operations.