Pitti Engineering Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 09, 2023 at 07:35 am EST
Share
Pitti Engineering Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 2,902.88 million compared to INR 3,041.69 million a year ago. Revenue was INR 3,028.5 million compared to INR 3,045.52 million a year ago. Net income was INR 225.52 million compared to INR 101.69 million a year ago. Basic earnings per share from continuing operations was INR 7.04 compared to INR 3.17 a year ago. Diluted earnings per share from continuing operations was INR 7.04 compared to INR 3.17 a year ago.
For the six months, sales was INR 5,800.75 million compared to INR 6,147.12 million a year ago. Revenue was INR 5,935.64 million compared to INR 6,156.09 million a year ago. Net income was INR 365.18 million compared to INR 218.71 million a year ago. Basic earnings per share from continuing operations was INR 11.39 compared to INR 6.82 a year ago. Diluted earnings per share from continuing operations was INR 11.39 compared to INR 6.82 a year ago.
Pitti Engineering Limited is an India-based company, which is engaged in the manufacture of engineering products of iron and steel. These products include electrical steel laminations, stator and rotor core assemblies, sub-assemblies, pole assemblies, die-cast rotors, press tools and high precision machining of various metal components. The Company operates through Engineering Products of Iron and Steel segment. The Company supplies a range of engineering products to various diversified segments, such as hydro and thermal generation, windmill, mining, cement, steel, sugar, construction, lift irrigation, freight rail, passenger rail, mass urban transport, e-mobility, appliances, medical equipment, oil and gas and several other industrial applications. It is engaged in the manufacture of engineering products/components through its wholly owned subsidiary, Pitti Rail and Engineering Components Limited. Its manufacturing units are located in Hyderabad and Aurangabad.