Triveni Engineering & Industries Ltd. Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
January 20, 2016 at 08:07 am
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Triveni Engineering & Industries Ltd. reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, on consolidated basis, the group reported net sales of INR 5,095.5 million, profit from operations before other income, finance costs and exceptional items of INR 262.2 million, profit from ordinary activities before tax of INR 84.0 million and net profit after taxes, minority interest and share of loss of associates of INR 141 million or INR 0.55 per diluted share (not annualized) compared to net sales of INR 5,802.9 million, loss from operations before other income, finance costs and exceptional items of INR 340.0 million, loss from ordinary activities before tax of INR 565.8 million and net loss after taxes, minority interest and share of loss of associates of INR 326.8 million or INR 1.27 per diluted share (not annualized) reported in the same period last year. EBITDA was INR 480.9 million compared to INR 109.8 million reported in the same period last year.
For the nine months, the group reported net sales of INR 14,427.4 million, profit from operations before other income, finance costs and exceptional items of INR 101.9 million, loss from ordinary activities before tax of INR 696 million and net loss after taxes, minority interest and share of loss of associates of INR 539.4 million or INR 2.09 per diluted share (not annualized) compared to net sales of INR 16,108.0 million, loss from operations before other income, finance costs and exceptional items of INR 379.4 million, loss from ordinary activities before tax of INR 1,182.0 million and net loss after taxes, minority interest and share of loss of associates of INR 664.6 million or INR 2.58 per diluted share (not annualized) reported in the same period last year. EBITDA was INR 750.8 million compared to INR 319.2 million reported in the same period last year. The improved performance is mainly due to improved sugar operations and with high sugar prices prevailing towards the end of the reporting period, the sugar inventory were accounted at cost without any inventory write-down.
For the quarter, on standalone basis, the company reported net sales of INR 5,116.2 million, profit before tax of INR 115.2 million and profit after tax of INR 115.2 million against net sales of INR 5,817.5 million, loss before tax of INR 565.9 million and loss after tax of INR 382.6 million for the same period a year ago.
For the nine months, on standalone basis, the company reported net sales of INR 14,469.7 million, loss before tax of INR 539.9 million and loss after tax of INR 539.9 million against net sales of INR 16,131.8 million, loss before tax of INR 1,124.6 million and loss after tax of INR 7,773 million for the same period a year ago.
Triveni Engineering and Industries Limited is an India-based company that is engaged in sugar manufacturing, and engineering businesses, covering power transmission, water and wastewater treatment solutions, and defense sectors. The Company's segments include Sugar and Allied Businesses, and Engineering Businesses. It manufactures white crystal sugar, having approximately seven manufacturing plants situated in the state of Uttar Pradesh. The Company uses molasses produced in manufacture of sugar as the principal raw material in production of ethanol and extra neutral alcohol. Its power transmission business is focused on high speed and niche low speed gears and gear boxes covering supply to original equipment manufacturers (OEMs), after market services and retro fitment of gearboxes, catering to the requirement of power sector, other industrial segments and defense. It provides engineered-to-order process equipment and comprehensive solutions in the water and wastewater management.
Triveni Engineering & Industries Ltd. Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015