Oriental Rail Infrastructure Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 12, 2024 at 03:19 am EST
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Oriental Rail Infrastructure 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 1,465.8 million compared to INR 1,062.8 million a year ago. Revenue was INR 1,472.38 million compared to INR 1,067.47 million a year ago. Net income was INR 125.12 million compared to INR 19.83 million a year ago. Basic earnings per share from continuing operations was INR 2.32 compared to INR 0.37 a year ago. Diluted earnings per share from continuing operations was INR 2.32 compared to INR 0.37 a year ago.
For the nine months, sales was INR 3,541.6 million compared to INR 2,047.51 million a year ago. Revenue was INR 3,559.47 million compared to INR 2,062.12 million a year ago. Net income was INR 256.37 million compared to INR 112.02 million a year ago. Basic earnings per share from continuing operations was INR 4.76 compared to INR 2.08 a year ago. Diluted earnings per share from continuing operations was INR 4.76 compared to INR 2.08 a year ago.
Oriental Rail Infrastructure Limited is an India-based company that is engaged in the manufacturing, buying, and selling of all type Recron, Seat & Berth, Lavatory Door, and Compreg Boards. The Company is also engaged in trading of timber woods, ferrous and nonferrous metals, casting tools, slabs, rods, and other ferrous and nonferrous products. The Company caters to both domestic and international markets. The Companyâs product is used across all types of railway coaches, new and existing, from premium trains like Rajdhani Express & Duronto Express to regular and local passenger trains. It also provides artificial leather for consumer products under the brand name ORVIN. The end use application for artificial leather includes hoes, automotive seating, commercial and residential upholstery, stationery, luggage, and bags. The Companyâs products are used in various applications, including railways, automotive, consumer and industrial engineering industry.