Pennar Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 09, 2024 at 09:11 pm IST
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Pennar Industries 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 7,447.5 million compared to INR 6,922.2 million a year ago. Revenue was INR 7,508.8 million compared to INR 7,001.3 million a year ago. Net income was INR 253.9 million compared to INR 213.3 million a year ago. Basic earnings per share from continuing operations was INR 1.88 compared to INR 1.56 a year ago.
For the nine months, sales was INR 23,077.7 million compared to INR 22,261.9 million a year ago. Revenue was INR 23,316 million compared to INR 22,607.4 million a year ago. Net income was INR 697.3 million compared to INR 520.8 million a year ago. Basic earnings per share from continuing operations was INR 5.17 compared to INR 3.74 a year ago.
Pennar Industries Limited is an engineering company. It is engaged in manufacturing of cold rolled steel strips, precision tubes, cold rolled formed sections, electrostatic precipitators and profiles. Its segments include Diversified engineering and Custom designed building solutions & auxiliaries. It also manufactures railway wagons and coach components, press steel components, hydraulics, road safety systems, galvanized products and solar panels. It provides a range of services, which includes structural engineering services, building information modeling (BIM), plant-product engineering services, industrial automation and IOT & value-added solutions. It serves various industries, including building and infrastructure, oil and gas, automotive value engineering, heavy engineering, rail transportation, and other industries. It has manufacturing facilities at Patancheru, Isnapur, Velchal, Sadashivpet in the state of Telangana, Chennai and Hosur in Tamil Nadu, Tarapur in Maharashtra.