Steelcast Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 24, 2017 at 04:32 pm IST
Share
Steelcast Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the standalone company reported net sales of INR 306.708 million against INR 349.751 million a year ago. Profit from operations before other income, borrowing costs and exceptional items was INR 24.401 million against INR 44.710 million a year ago. Loss before tax was INR 1.529 million against profit of INR 11.174 million a year ago. Net profit was INR 8.460 million against INR 8.684 million a year ago. Diluted loss per share before extraordinary items was INR 0.06 against profit of INR 0.48 a year ago. Diluted earnings per share after extraordinary items were INR 0.42 against INR 0.48 a year ago.
For the nine months, the standalone company reported net sales of INR 891.675 million against INR 998.048 million a year ago. Profit from operations before other income, borrowing costs and exceptional items was INR 66.167 million against INR 93.177 million a year ago. Loss before tax was INR 5.677 million against INR 8.316 million a year ago. Net profit was INR 7.478 million against loss of INR 4.005 million a year ago. Diluted loss per share before extraordinary items was INR 0.11 against INR 0.22 a year ago. Diluted earnings per share after extraordinary items were INR 0.37 against loss of INR 0.22 a year ago.
Steelcast Limited is an India-based manufacturer of steel and alloy steel castings. The Company specializes in the manufacture of products for mission-critical applications. It is engaged in catering to a host of original equipment manufacturers (OEMs) for industry sectors, such as earth moving, mining and mineral processing, railway, steel plants, cement, energy, valves and pumps, electro locomotive, aerobridge, oil exploration, shipping, and general engineering. Its products include adapter and tooth point, front axle spindle, components for backhoe loader, steering case, coupler body, box type tooth points, continuous drag chain, track shoe assembly, cooler grate plates, grinding roller, pressure plate, cylinder head, commercial chamber, oil field equipment-body casing, anchor and shank assembly, segment feeder, car shredding hammer, plastic injection mold plate, and gate valves, among others. The Companyâs manufacturing facility is in Bhavnagar district (Gujarat), Alang.