Harsha Engineers International Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 08, 2024 at 02:40 am EST
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Harsha Engineers International Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 3,244.5 million compared to INR 3,006.8 million a year ago. Revenue was INR 3,355.4 million compared to INR 3,141.8 million a year ago. Net income was INR 296.8 million compared to INR 317.4 million a year ago. Basic earnings per share from continuing operations was INR 3.26 compared to INR 3.45 a year ago. Diluted earnings per share from continuing operations was INR 3.26 compared to INR 3.45 a year ago.
For the nine months, sales was INR 10,119 million compared to INR 10,203.3 million a year ago. Revenue was INR 10,336.4 million compared to INR 10,443 million a year ago. Net income was INR 746.5 million compared to INR 906.6 million a year ago. Basic earnings per share from continuing operations was INR 8.2 compared to INR 11.01 a year ago. Diluted earnings per share from continuing operations was INR 8.2 compared to INR 11.01 a year ago.
Harsha Engineers International Limited is an India-based precision engineering company. The Company is engaged in the manufacturing of precision bearing cages. Its segments include Engineering and Others, and Solar-engineering, procurement, and construction (EPC) and operations and maintenance (O&M). The Engineering and Others segment includes all activities related with bearing cages and stamp components, including but not limited to sales, services, design, tooling, development, procurement and manufacturing. The Solar-EPC and O&M segment includes all activities related with solar power projects, including but not limited to engineering, design, development, procurement, construction, erection, installation, commissioning, operation and maintenance. The Company offers a range of products, including brass, steel and polyamide cages, precision components, complex stamped components, brass castings, and bronze bushings. It supplies products to both domestic and international customers.