Usha Martin Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 11, 2023 at 03:14 am
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Usha Martin Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 8,336.3 million compared to INR 7,121.5 million a year ago. Revenue was INR 8,380.3 million compared to INR 7,210.2 million a year ago. Net income was INR 839.4 million compared to INR 670.4 million a year ago. Basic earnings per share from continuing operations was INR 2.76 compared to INR 2.2 a year ago.
For the nine months, sales was INR 24,125.4 million compared to INR 19,215.1 million a year ago. Revenue was INR 24,292.7 million compared to INR 19,505.8 million a year ago. Net income was INR 2,449.3 million compared to INR 1,826.2 million a year ago. Basic earnings per share from continuing operations was INR 8.05 compared to INR 5.99 a year ago.
Usha Martin Limited is an India-based specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing of wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services. The Company's segments include Wire and Wire ropes, and Others. The Wire and Wire ropes segment is engaged in the manufacturing and sale of steel wires, strands, wire ropes, cord, related accessories, wire drawing and allied machine, among others. The Others segment is engaged in the manufacturing and sale of jelly filled and optical fiber telecommunication cables. It provides various wire ropes, such as crane rope, mining rope, elevator rope, oil and offshore rope, fishing rope, general engineering rope, aerial transportation rope, structural rope, and conveyor rope. The Company's LRPC strands products include unbonded polymer coated LRPC strand, bonded polymer coated LRPC strand and compacted LRPC strand.