Fiem Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 14, 2023 at 05:52 am EST
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Fiem 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 4,378.97 million compared to INR 3,856.88 million a year ago. Revenue was INR 4,455.18 million compared to INR 3,895.95 million a year ago. Net income was INR 319.2 million compared to INR 232.23 million a year ago. Basic earnings per share from continuing operations was INR 24.26 compared to INR 17.65 a year ago. Diluted earnings per share from continuing operations was INR 24.26 compared to INR 17.65 a year ago.
For the nine months, sales was INR 14,011.98 million compared to INR 10,742.05 million a year ago. Revenue was INR 14,180.22 million compared to INR 10,847.65 million a year ago. Net income was INR 1,018.03 million compared to INR 604.5 million a year ago. Basic earnings per share from continuing operations was INR 77.36 compared to INR 45.94 a year ago. Diluted earnings per share from continuing operations was INR 77.36 compared to INR 45.94 a year ago.
Fiem Industries Limited is an India-based company that is primarily engaged in the business of manufacturing and supply of auto components. The Company manufactures automotive lighting and signaling equipment, rear-view mirror, prismatic mirror, plastic molded parts, bank angle sensor, canister and sheet metal components for motorized vehicles, and light-emitting diode (LED) luminaires comprising of indoor and outdoor lighting, display panels and integrated passenger information system. Its products include headlamps, tail lamps, other lamps, pistons, rings, engine valves, fuel pumps, carburetor, starter motor, generators, ignition system, spark plug, steering gears and systems, clutch plates, discs, axle assembly and wheels, leaf springs, shock, absorbers, brake assembly and facing, wiping systems, electric horns, dashboard instruments, sheet metal parts, pressure discs, castings and glass rubber. The Company operates approximately nine manufacturing facilities.