Harsha Engineers International Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 07, 2023 at 03:01 am EST
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Harsha Engineers International 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 3,394.9 million compared to INR 3,219.7 million a year ago. Revenue was INR 3,461.4 million compared to INR 3,262.4 million a year ago. Net income was INR 203.9 million compared to INR 280.7 million a year ago. Basic earnings per share from continuing operations was INR 2.24. Diluted earnings per share from continuing operations was INR 2.24.
For the six months, sales was INR 6,874.5 million compared to INR 7,196.5 million a year ago. Revenue was INR 6,981 million compared to INR 7,301.2 million a year ago. Net income was INR 449.7 million compared to INR 589.2 million a year ago. Basic earnings per share from continuing operations was INR 4.94. Diluted earnings per share from continuing operations was INR 4.94.
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.