Sutlej Textiles and Industries Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 04, 2022 at 01:52 pm IST
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Sutlej Textiles and Industries Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 8,195.7 million compared to INR 7,860.5 million a year ago. Revenue was INR 8,260.2 million compared to INR 7,975.5 million a year ago. Net income was INR 313.1 million compared to INR 416.8 million a year ago. Basic earnings per share from continuing operations was INR 1.91 compared to INR 2.54 a year ago.
For the six months, sales was INR 16,655.6 million compared to INR 13,727.9 million a year ago. Revenue was INR 16,787.1 million compared to INR 13,880.6 million a year ago. Net income was INR 766.9 million compared to INR 620.7 million a year ago. Basic earnings per share from continuing operations was INR 4.68 compared to INR 3.79 a year ago.
Sutlej Textiles and Industries Limited is a textile manufacturing company. The Company operates through two segments: Yarn and Home textiles. Its Yarn segment comprises recycled polyester staple fiber, cotton and man-made fiber yarn. Its Home textiles segment comprises home furnishing and fabric processing. The Company offers a range of products through the yarn category, which includes polyester, acrylic, cotton melange, injection slub yarn, neppy yarn, roving grindle yarn, siro spun, siro compact, lycra twisted, core spun and double core yarns, in single-ply, double-ply and multi-fold. The Company offers a range of products through the home textiles category, which includes upholstery fabrics, drapery fabrics and made-ups. It also manufactures recycled polyester fiber from polyethylene terephthalate (PET) bottles. It offers made-ups, including cushions, throws, curtains and bed scarves in customized designs and sizes as per the specifications of its clients.