Ester Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 14, 2023 at 05:43 am EST
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Ester Industries 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 1,927.48 million compared to INR 2,884.52 million a year ago. Revenue was INR 2,004.31 million compared to INR 2,901.13 million a year ago. Net loss was INR 92.68 million compared to net income of INR 345.19 million a year ago. Basic loss per share from continuing operations was INR 1.11 compared to basic earnings per share from continuing operations of INR 2.66 a year ago. Basic loss per share was INR 1.11 compared to basic earnings per share of INR 4.14 a year ago.
For the nine months, sales was INR 8,194.73 million compared to INR 8,071.52 million a year ago. Revenue was INR 8,332.3 million compared to INR 8,138.62 million a year ago. Net income was INR 1,566.95 million compared to INR 1,037.88 million a year ago. Basic earnings per share from continuing operations was INR 3.53 compared to INR 7.42 a year ago. Basic earnings per share was INR 18.79 compared to INR 12.44 a year ago.
Ester Industries Limited is an India-based company, which is engaged in the business of manufacturing of polyester films and specialty polymers. The Company's segments include Polyester chips and film and Specialty Polymers. Its polyester films product line include special chemical coated films, transparent high barrier films, isotropic film, heat seal films, shrink sleeve film, gold films, embossable films, insulation film, printing, converting and metallizing films, special chemical coated films, metalized high barrier films-LIMH, metalized ultra-high barrier films, retort film, matte films, ultraviolet (UV) stabilized films, white opaque films, high clear films (HC / UL), high friction films, insulation films and twist films. It is also engaged in the business of polyester packaging films. The Company's specialty polyester business manufactures polyester chips of normal and Masterbatch grades. Its manufacturing plant is located at Khatima, in the state of Uttarakhand.
ESTER INDUSTRIES LIMITED 
