Sutlej Textiles and Industries Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 05, 2023 at 04:28 am
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Sutlej Textiles and Industries Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 7,440.6 million compared to INR 8,904.6 million a year ago. Revenue was INR 7,518.5 million compared to INR 9,010.2 million a year ago. Net loss was INR 238.5 million compared to net income of INR 516.4 million a year ago. Basic loss per share from continuing operations was INR 1.46 compared to basic earnings per share from continuing operations of INR 3.15 a year ago.
For the full year, sales was INR 30,742.3 million compared to INR 30,764.6 million a year ago. Revenue was INR 31,004.6 million compared to INR 31,122 million a year ago. Net income was INR 372.8 million compared to INR 1,502.3 million a year ago. Basic earnings per share from continuing operations was INR 2.28 compared to INR 9.17 a year ago.
Sutlej Textiles and Industries Limited is a textile manufacturing company. The Company operates through two segments: Yarn and Home textiles. Its Yarn segment comprises recycled polyester staple fiber, cotton and man-made fiber yarn. Its Home textiles segment comprises home furnishing and fabric processing. The Company offers a range of products through the yarn category, which includes polyester, acrylic, cotton melange, injection slub yarn, neppy yarn, roving grindle yarn, siro spun, siro compact, lycra twisted, core spun and double core yarns, in single-ply, double-ply and multi-fold. The Company offers a range of products through the home textiles category, which includes upholstery fabrics, drapery fabrics and made-ups. It also manufactures recycled polyester fiber from polyethylene terephthalate (PET) bottles. It offers made-ups, including cushions, throws, curtains and bed scarves in customized designs and sizes as per the specifications of its clients.