Ratnamani Metals & Tubes Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 08, 2024 at 05:53 am EST
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Ratnamani Metals & Tubes 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 12,572.57 million compared to INR 10,987.06 million a year ago. Revenue was INR 12,724.68 million compared to INR 35,977.96 million a year ago. Net income was INR 1,328.74 million compared to INR 1,333.2 million a year ago. Basic earnings per share from continuing operations was INR 18.94 compared to INR 19.13 a year ago. Diluted earnings per share from continuing operations was INR 18.94 compared to INR 19.13 a year ago.
For the nine months, sales was INR 35,633.91 million compared to INR 29,753.27 million a year ago. Revenue was INR 30,014.51 million compared to INR 45,070.81 million a year ago. Net income was INR 4,306.24 million compared to INR 3,189.31 million a year ago. Basic earnings per share from continuing operations was INR 61.63 compared to INR 45.62 a year ago. Diluted earnings per share from continuing operations was INR 61.63 compared to INR 45.62 a year ago.
Ratnamani Metals and Tubes Limited is an India-based holding company. The Company is engaged in manufacturing Stainless Steel and Welded Pipes and Tubes in India. It has a product range that services approximately 20 user sectors. The Company provides critical tubing and piping solutions to diverse range of industries and niche markets in core sectors, such as oil and gas, refinery and petrochemical, dairy, chemical and fertilizer, thermal, solar and nuclear power, liquefied natural gas (LNG), desalination, defense, aerospace, chillers and cooling system, pulp and paper industry, automobile, and others. The Companyâs manufacturing facilities are located in the state of Gujarat, India. Its manufacturing and testing facilities produces a range of nickel alloy/stainless steel seamless tubes and pipes, stainless steel welded tubes and pipes, titanium welded tubes, carbon steel welded pipes and stainless steel/carbon steel pipes with coating.