Orient Refractories Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 28, 2014 at 08:11 am
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Orient Refractories Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company announced net sales or income from operations, net of excise duty of INR 1,056.899 million compared to INR 881.263 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 205.092 million compared to INR 151.025 million a year ago. Profit from ordinary activities before tax was INR 210.844 million compared to INR 154.240 million a year ago. Net profit was INR 140.215 million or INR 1.17 per basic and diluted share compared to INR 103.774 million or INR 0.86 per basic and diluted share a year ago.
For the nine months, the company announced net sales or income from operations, net of excise duty of INR 2,980.063 million compared to INR 2,701.915 million a year ago. Profit from operations before other income, finance costs and exceptional items were INR 561.555 million compared to INR 467.776 million a year ago. Profit from ordinary activities before tax was INR 596.921 million compared to INR 446.171 million a year ago. Net profit was INR 396.540 million or INR 3.30 per basic and diluted share compared to INR 300.698 million or INR 2.50 per basic and diluted share a year ago.
RHI Magnesita India Ltd is an India-based company. The Company is engaged in the business of manufacturing and trading refractories, monolithic, bricks, and ceramic paper, as well as rendering management services. Its geographical segments are within India and outside India. The Company offers a range of refractory products and mixes to its customers in steel, cement, lime, non-ferrous metals, glass, and other industries. The Company offers solutions such as total refractory management/full line service, tailor-made products and services, complete project management from drawing and engineering, supply, installation, and commissioning, and engineering solutions. The Company has manufacturing facilities in Bhiwadi (Rajasthan), Visakhapatnam (Andhra Pradesh), and Cuttack (Orrisa). The Company operates through its subsidiary, Intermetal Engineers (India) Private Limited, which is primarily engaged in the business of manufacturing and selling slide gate mechanics and related components.