Precot Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 13, 2023 at 11:32 am IST
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Precot Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 2,192.48 million compared to INR 2,705.8 million a year ago. Revenue was INR 2,284.58 million compared to INR 2,823.49 million a year ago. Net loss was INR 279.38 million compared to net income of INR 342.01 million a year ago. Basic loss per share from continuing operations was INR 23.28 compared to basic earnings per share from continuing operations of INR 28.5 a year ago.
For the nine months, sales was INR 6,868.34 million compared to INR 6,802.83 million a year ago. Revenue was INR 7,193.57 million compared to INR 7,128.8 million a year ago. Net loss was INR 171.19 million compared to net income of INR 811.92 million a year ago. Basic loss per share from continuing operations was INR 14.27 compared to basic earnings per share from continuing operations of INR 67.66 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.
PRECOT LIMITED 