Premier Explosives Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012
January 28, 2013 at 07:34 pm IST
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Premier Explosives announced unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net salesincome from operations of INR 274.134 million against INR 288.403 million a year ago. Profit from operations before other income finance costs and exceptional items were INR 6.005 million against INR 46.830 million a year ago. Profit from ordinary activities before tax was INR 2.848 million against INR 47.877 million a year ago. Net profit for the period was INR 2.409 million against INR 32.799 million a year ago. Basic and diluted earnings per share were INR 0.30 against INR 4.04 a year ago.
For the nine months, the company reported net salesincome from operations of INR 734.459 million against INR 763.496 million a year ago. Profit from operations before other income finance costs and exceptional items were INR 39.400 million against INR 105.872 million a year ago. Profit from ordinary activities before tax was INR 45.639 million against INR 112.322 million a year ago. Net profit for the period was INR 33.261 million against net profit of INR 77.631 million a year ago. Basic and diluted earnings per share were INR 4.09 against INR 9.55 a year ago.
Premier Explosives Limited is an India-based company that is primarily engaged in the manufacture of high energy materials and allied products for the defense, space, mining and infrastructure industries. The Company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles. The Companyâs extended capabilities include products, such as chaff, infrared (IR) flares, explosive bolts, pyro devices, smoke markers, cable cutters, tear gas grenades and many other products, including pyrogen igniters for defense and space applications. The Company has over two units under defense and explosive manufacturing, where one unit is at Peddakundukur and the second at Katepally, which are located in the State of Telangana. In addition, the Company has over six bulk explosive manufacturing locations spread across Madhya Pradesh, Maharashtra, Telangana and Tamil Nadu.