Sutlej Textiles and Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 30, 2023
February 08, 2024 at 02:48 am
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Sutlej Textiles and Industries Limited reported earnings results for the third quarter and nine months ended December 30, 2023. For the third quarter, the company reported sales was INR 6,074.7 million compared to INR 6,646.1 million a year ago. Revenue was INR 6,119.1 million compared to INR 6,699 million a year ago. Net loss was INR 300.8 million compared to INR 155.6 million a year ago. Basic loss per share from continuing operations was INR 1.84 compared to INR 0.95 a year ago.
For the nine months, sales was INR 20,468.5 million compared to INR 23,301.7 million a year ago. Revenue was INR 20,620.9 million compared to INR 23,486.1 million a year ago. Net loss was INR 1,100.1 million compared to net income of INR 611.3 million a year ago. Basic loss per share from continuing operations was INR 6.71 compared to basic earnings per share from continuing operations of INR 3.73 a year ago.
Sutlej Textiles and Industries Limited is an India-based textile manufacturing company. The Company primarily deals in cotton and manmade fibers yarn and home textiles. The Company operates through two segments: Yarn and Home textiles. Yarn segment comprises of recycled polyester staple fiber, cotton, and manmade fibers yarn. Home textiles segment comprises of home furnishing and fabric processing. The Companyâs yarns portfolio include 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. It also manufactures specialty yarns, such as modal, lyocell, tencel, coolmax, lycra, and thermolite fiber. The Company offers a range of products through the home textiles category, which includes upholstery fabrics, drapery fabrics and made ups. The Company's subsidiary is Sutlej Holdings, Inc.