Varroc Engineering Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 07, 2023 at 03:25 pm IST
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Varroc Engineering 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 17,167.71 million compared to INR 14,886.09 million a year ago. Revenue was INR 17,257.83 million compared to INR 14,971.03 million a year ago. Net income was INR 204.04 million compared to net loss of INR 2,959.83 million a year ago. Basic earnings per share from continuing operations was INR 1.34 compared to basic loss per share from continuing operations of INR 1.91 a year ago. Basic earnings per share was INR 1.34 compared to basic loss per share of INR 19.37 a year ago.
For the nine months, sales was INR 51,730.08 million compared to INR 41,922.14 million a year ago. Revenue was INR 52,096.93 million compared to INR 42,165.88 million a year ago. Net loss was INR 8,594.58 million compared to INR 8,245.56 million a year ago. Basic loss per share from continuing operations was INR 0.23 compared to INR 3.17 a year ago. Basic loss per share was INR 56.25 compared to INR 53.96 a year ago.
Varroc Engineering Limited is an India-based automotive component company. The Company manufactures and supplies electrical-electronic, polymer, metallic, exterior lighting and advanced safety systems to leading original equipment manufacturer (OEMs), with end-to-end capabilities across design, development and manufacturing. Its segments include Automotive and Others. The Automotive segment consists of the business of automobile products consisting of auto parts for two-wheelers, three-wheelers and four-wheelers and related design, development and engineering activities and other services. The Others segment comprise of forging components for off road vehicles and components for mining and oil drilling industry. It offers diverse product line in valves, transmission, engine parts and heavy forging. It is a supplier of outdoor lighting systems to OEMs. It also offers air filter, assemblies mirror, door trims, central console, traction motor and controller, and telematics control unit.