Praj Industries Ltd. Reports Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended December 31, 2012
January 21, 2013 at 08:08 am EST
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Praj Industries Ltd. reported unaudited standalone earnings results for third quarter and nine months ended December 31, 2012. For the quarter on standalone basis, the company's net income from operations was INR 1,901.8 million against INR 2,192.5 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 173.1 million against INR 170.7 million for the same period a year ago. Profit from ordinary activities before tax was INR 264.1 million against INR 273.4 million for the same period a year ago. Net profit for the period was INR 232.6 million or INR 1.31 basic and diluted earnings per share before and after extra ordinary items against INR 215.0 million or INR 1.16 basic and diluted earnings per share before and after extra ordinary items for the same period a year ago. Income from operations stood at INR 1,872.2 million against INR 2,192.5 million a year ago. The EBITDA (excluding other income) is at INR 206.6 million when compared to INR 206.8 million a year ago.
For the nine months on standalone basis, the company's total income from operations was INR 5,416.6 million against INR 6,128.5 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 392.5 million against INR 462.7 million for the same period a year ago. Profit from ordinary activities before tax was INR 613.7 million against INR 699.5 million for the same period a year ago. Net profit for the period was INR 513.4 million or INR 2.89 basic and diluted earnings per share before and after extra ordinary items against 556.6 million or INR 3.01 basic and diluted earnings per share before and after extra ordinary items for the same period a year ago. Income from operations stood at INR 5,387.0 million against INR 6,124.3 million a year ago. The EBITDA (excluding other income) is at INR 491.3 million when compared to INR 556.6 million a year ago.
Praj Industries Limited is an India-based industrial biotechnology company. The Company is engaged in the business of process and project engineering. It also provides design and engineering services. Its BioMobility platform offers technology solutions globally to produce renewable transportation fuel. The Company's Bio-Prism portfolio comprises of technologies for production of renewable chemicals and materials. The Company's business lines include BioEnergy, Praj HiPurity Systems, critical process equipment and skids, wastewater treatment, and brewery and beverages. Its BioEnergy solutions include first generation (1G) ethanol, which provides solutions for sugary feedstocks and solutions for starchy feedstocks. Its technologies include BIOSYRUP, EcoCool, MAXIMOL, Celluniti and enfinity. The Company provides environment friendly solutions through a zero liquid discharge (ZLD) system. It offers various services, such as fermentation, dehydration and effluent treatment, among others.