Sumeet Industries Ltd. Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 23, 2017 at 01:43 am
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Sumeet Industries Ltd. reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, on standalone basis, the company reported total income from operations (net) of INR 2,821.538 million compared to INR 2,367.871 million, profit from operations before other income, finance costs and exceptional items of INR 233.991 million compared to INR 195.800 million, profit from ordinary activities before tax of INR 140.577 million compared to INR 69.597 million and net profit of INR 102.412 million or INR 1.76 per basic and diluted share before and after extraordinary items not annualized compared to INR 51.734 million or INR 0.89 per basic and diluted share before and after extraordinary items not annualized for the last year.
For the nine months, on standalone basis, the company reported total income from operations (net) of INR 9,016.860 million compared to INR 7,034.077 million, profit from operations before other income, finance costs and exceptional items of INR 730.837 million compared to INR 524.858 million, profit from ordinary activities before tax of INR 444.150 million compared to INR 175.998 million and net profit of INR 319.788 million or INR 5.51 per basic and diluted share before and after extraordinary items not annualized compared to INR 168.446 million or INR 2.34 per basic and diluted share before and after extraordinary items not annualized for the last year.
For the quarter, on consolidated basis, the company reported total income from operations (net) of INR 3,411.258 million compared to INR 2,873.855 million, profit from operations before other income, finance costs and exceptional items of INR 243.885 million compared to INR 204.094 million, profit from ordinary activities before tax of INR 143.336 million compared to INR 77.880 million and net profit of INR 105.171 million or INR 1.81 per basic and diluted share before and after extraordinary items not annualized compared to INR 60.017 million or INR 1.03 per basic and diluted share before and after extraordinary items not annualized for the last year.
For the nine months, on consolidated basis, the company reported total income from operations (net) of INR 10,579.800 million compared to INR 8,500.605 million, profit from operations before other income, finance costs and exceptional items of INR 747.468 million compared to INR 545.713 million, profit from ordinary activities before tax of INR 468.799 million compared to INR 195.681 million and net profit of INR 344.437 million or INR 5.93 per basic and diluted share before and after extraordinary items not annualized compared to INR 155.393 million or INR 2.68 per basic and diluted share before and after extraordinary items not annualized for the last year.
Sumeet Industries Limited is an India-based polyester value chain company. The Company is engaged in the business of manufacturing and exporting partially oriented yarn (POY), fully drawn yarn (FDY), polyester chips and texturizing yarn. The Company is producing polyester semi dull intermingled POY as well as bright yarn and dope dyed black yarn. It offers a wide range of POY products for draw texturizing as well as air texturizing, draw twisting and draw warping applications. It produces yarns of 75 deniers, 100 deniers, 126 deniers, 150 deniers in various filaments both in semi dull and in black color. It manufactures different deniers in 14, 24, 36, 48, 72, 96 and 192 filaments in semi dull (circular cross-section) and bright (trilobal) and super bright dope dyed (trilobal) cross-section. The Company caters to both domestic and international markets. The Company exports to various countries, such as Egypt, Saudi Arabia, China, Poland, Russia, Morocco and Columbia, among others.