Precot Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 12, 2024 at 01:53 am EST
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Precot 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 2,169.48 million compared to INR 2,192.48 million a year ago. Revenue was INR 2,297.03 million compared to INR 2,284.58 million a year ago. Net income was INR 88.1 million compared to net loss of INR 279.38 million a year ago. Basic earnings per share from continuing operations was INR 7.34 compared to basic loss per share from continuing operations of INR 23.28 a year ago.
For the nine months, sales was INR 6,841.06 million compared to INR 6,868.34 million a year ago. Revenue was INR 7,240.45 million compared to INR 7,193.57 million a year ago. Net income was INR 46.42 million compared to net loss of INR 171.19 million a year ago. Basic earnings per share from continuing operations was INR 3.87 compared to basic loss per share from continuing operations of INR 14.27 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.