Le Merite Exports Limited Reports Earnings Results for the Half Year and Full Year Ended March 31, 2023
May 29, 2023 at 08:29 am EDT
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Le Merite Exports Limited reported earnings results for the half year and full year ended March 31, 2023. For the half year, the company reported sales was INR 1,956.94 million compared to INR 3,125.56 million a year ago. Revenue was INR 1,972.05 million compared to INR 3,131.2 million a year ago. Net income was INR 0.432 million compared to INR 98.76 million a year ago. Basic earnings per share from continuing operations was INR 0.02 compared to INR 5.78 a year ago. Diluted earnings per share from continuing operations was INR 0.02 compared to INR 5.78 a year ago.
For the full year, the company reported sales was INR 3,641.328 million compared to INR 5,259.014 million a year ago. Revenue was INR 3,672.432 million compared to INR 5,269.730 million a year ago. Net income was INR 63.567 million compared to INR 210.596 million a year ago. Basic earnings per share from continuing operations was INR 2.71 compared to INR 12.33 a year ago. Diluted earnings per share from continuing operations was INR 2.78 compared to INR 12.33 a year ago.
Le Merite Exports Limited is an India-based company, which is engaged in manufacturing and trading of textile products namely cotton yarn, greige fabric, and finished fabric for domestic and export sales. It deals in diversified product portfolio with capability to supply compact cotton yarn varying from counts NE 16/1 to NE 32/1 & NE 16/2 to NE 32/2 combed carded and double yarn that are used in various forms and for varied end uses. It operates through the textile segment, which is engaged in the trading of yarn, fabric, cotton, polyester chips, and manufacturing of yarn. It also exports sustainable organic yarn and fabric to international textile and garment manufacturers. Its subsidiaries include Le Merite Filament Private Limited and Le Merite Laxmi Spinning Private Limited, which are engaged in trading of polyester yarn, viscose yarn, synthetic fibers, staple fibers, worsted yarn, lycra yarn and other varieties, such as texturized, twisted, sized, and other such kinds of fiber.