Rolex Rings Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 01, 2024 at 03:18 am EST
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Rolex Rings 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 2,733.14 million compared to INR 3,073.36 million a year ago. Revenue was INR 2,778.83 million compared to INR 3,141.06 million a year ago. Net income was INR 370.17 million compared to INR 527.9 million a year ago. Basic earnings per share from continuing operations was INR 13.59 compared to INR 19.39 a year ago. Diluted earnings per share from continuing operations was INR 13.59 compared to INR 19.39 a year ago.
For the nine months, sales was INR 9,054.17 million compared to INR 8,794.69 million a year ago. Revenue was INR 9,161.69 million compared to INR 8,985.22 million a year ago. Net income was INR 1,324.17 million compared to INR 1,516.85 million a year ago. Basic earnings per share from continuing operations was INR 48.62 compared to INR 55.7 a year ago. Diluted earnings per share from continuing operations was INR 48.62 compared to INR 55.7 a year ago.
Rolex Rings Limited is an India-based forging company that is primarily engaged in the manufacturing of forged and machined bearing rings and automotive components. The Company operates through the diversified auto components segment. The Companyâs products include transmission components product, including gear blanks, ring gear, sun and pinion, shafts and lock nut; engine components, including pulley, cam lobs and other forged components; chassis components, including wheel hubs, Gen2 and Gen3 bearing components, output shafts and constant velocity joints (CVJ) components; bearing rings, and exhaust system components, including flanges, biocones and tulip. Its product applications include two-wheeler, three-wheeler, four-wheeler, industrial, railways, off-highway, earth-moving, windmill, textile, electrical, defense, power, aerospace, marine, oil and natural gas. Its facilities include raw material, heat treatment, machining, rolling, grinding, surface treatment and forging.