Precot Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 10, 2023 at 02:22 am EST
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Precot Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 2,541.68 million compared to INR 2,263.21 million a year ago. Revenue was INR 2,676.39 million compared to INR 2,359.76 million a year ago. Net loss was INR 10.77 million compared to INR 31.28 million a year ago. Basic loss per share from continuing operations was INR 0.9 compared to INR 2.61 a year ago.
For the six months, sales was INR 4,671.58 million compared to INR 4,675.86 million a year ago. Revenue was INR 4,943.42 million compared to INR 4,908.99 million a year ago. Net loss was INR 41.69 million compared to net income of INR 108.19 million a year ago. Basic loss per share from continuing operations was INR 3.47 compared to basic earnings per share from continuing operations of INR 9.02 a year ago.
Precot Limited is an India-based textile company, which is engaged in the manufacturing of yarn and technical textile products. The Company has cotton-based products that can be used in the manufacturing of cosmetic, personal hygiene, medical and cleaning products. Its hygiene products include cotton pads, cotton balls, exfoliating pads, cotton wool rolls and pleats, cotton spunlace rolls/tapes and absorbent cotton fibre. It produces a range of cotton yarns and threads that are suitable for weaving, knitting, crocheting, sewing and textile production. Its cotton products are exported to textile mills and cotton-based manufacturers across the world. It has approximately four spinning units and two dyeing units located in the four southern states of India. The Company has manufacturing units in Tamil Nadu, Kerala, Andhra Pradesh, and Karnataka with a total spinning capacity of approximately 163,000 spindles.