Varroc Engineering Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 04:14 am
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Varroc Engineering Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 18,845.88 million compared to INR 17,227.71 million a year ago. Revenue was INR 18,935.16 million compared to INR 17,257.83 million a year ago. Net income was INR 3,826.85 million compared to INR 204.04 million a year ago. Basic earnings per share from continuing operations was INR 25.05 compared to INR 1.34 a year ago. Diluted earnings per share from continuing operations was INR 25.05 compared to INR 1.34 a year ago. Basic earnings per share was INR 25.05 compared to INR 1.34 a year ago. Diluted earnings per share was INR 25.05 compared to INR 1.34 a year ago.
For the nine months, sales was INR 55,770.82 million compared to INR 51,920.98 million a year ago. Revenue was INR 55,982.39 million compared to INR 52,096.93 million a year ago. Net income was INR 4,691.69 million compared to net loss of INR 8,594.58 million a year ago. Basic earnings per share from continuing operations was INR 32.08 compared to basic loss per share from continuing operations of INR 0.23 a year ago. Diluted earnings per share from continuing operations was INR 32.08 compared to diluted loss per share from continuing operations of INR 0.23 a year ago. Basic earnings per share was INR 30.71 compared to basic loss per share of INR 56.25 a year ago. Diluted earnings per share was INR 30.71 compared to diluted loss per share of INR 56.25 a year ago.
Varroc Engineering Limited is an India-based automotive component company. The Company manufactures and supplies electrical-electronic, polymer, metallic, exterior lighting and advanced safety systems to leading original equipment manufacturer (OEMs), with end-to-end capabilities across design, development and manufacturing. Its segments include Automotive and Others. The Automotive segment consists of the business of automobile products consisting of auto parts for two-wheelers, three-wheelers and four-wheelers and related design, development and engineering activities and other services. The Others segment comprise of forging components for off road vehicles and components for mining and oil drilling industry. It offers diverse product line in valves, transmission, engine parts and heavy forging. It is a supplier of outdoor lighting systems to OEMs. It also offers air filter, assemblies mirror, door trims, central console, traction motor and controller, and telematics control unit.