PPAP Automotive Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 10, 2024 at 05:08 am EST
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PPAP Automotive Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 1,223.62 million compared to INR 1,271.23 million a year ago. Revenue was INR 1,224.8 million compared to INR 1,275.62 million a year ago. Net loss was INR 26.73 million compared to INR 36.68 million a year ago. Basic loss per share from continuing operations was INR 1.91 compared to INR 2.62 a year ago. Diluted loss per share from continuing operations was INR 1.91 compared to INR 2.62 a year ago.
For the nine months, sales was INR 3,872.17 million compared to INR 3,788.37 million a year ago. Revenue was INR 3,886.61 million compared to INR 3,801.38 million a year ago. Net loss was INR 48.81 million compared to INR 36.64 million a year ago. Basic loss per share from continuing operations was INR 3.49 compared to INR 2.62 a year ago. Diluted loss per share from continuing operations was INR 3.49 compared to INR 2.62 a year ago.
PPAP Automotive Limited is an India-based manufacturer of automotive sealing systems, interior and exterior automotive parts. In addition, the Company's business also offers rubber automotive sealing system, commercial tool room, and pail containers, among others. The Company operates through a single segment, namely automotive component. The tooling facility manufactures tools for customers in automotive, as well as white goods and electronic goods. The Company has ventured into the development of pail containers. The facility is located at Surajpur Industrial Area, Uttar Pradesh. The Company has also ventured into the electric vehicle market through its subsidiary PPAP Technology Limited. The facility is located in Noida, Uttar Pradesh. The Company serves original equipment manufacturers (OEMs). The Company's manufacturing facilities are located in Noida, Uttar Pradesh; Greater Noida, Uttar Pradesh; Chennai, Tamil Nadu; Pathredi, Rajasthan and Ahmedabad, Gujarat.