Salzer Electronics Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 04, 2023 at 05:04 am EDT
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Salzer Electronics 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 2,807.22 million compared to INR 2,456.23 million a year ago. Revenue was INR 2,810.1 million compared to INR 2,451.48 million a year ago. Net income was INR 98.38 million compared to INR 93.85 million a year ago. Basic earnings per share from continuing operations was INR 5.99 compared to INR 5.87 a year ago. Diluted earnings per share from continuing operations was INR 5.56 compared to INR 5.87 a year ago.
For the six months, sales was INR 5,693.95 million compared to INR 4,887.59 million a year ago. Revenue was INR 5,704.18 million compared to INR 4,895.08 million a year ago. Net income was INR 197.77 million compared to INR 188.08 million a year ago. Basic earnings per share from continuing operations was INR 12.05 compared to INR 11.77 a year ago. Diluted earnings per share from continuing operations was INR 11.18 compared to INR 11.77 a year ago.
Salzer Electronics Limited is an India-based company, which offers total and customized electrical solutions in switchgears, wires and cables, and energy management business. The Company is engaged in the manufacturing of electrical installation products and components, such as cam operated rotary switches, selector switches, wiring ducts, voltmeter switches, copper wires and cables and allied products addressing customers in the electrical equipment, power, medical equipment, automotive as well as renewable and uninterrupted power system spaces. The Company manufactures a range of industrial wires and cables from 0.5 square millimeter (sq mm) to 300 sq mm - building wires, flexible wires, multi core cables, flat cables, traveling cables, shielded and braided wires halogen free wires and others. It has a distribution network locally and globally, exporting to many countries. The Company exports its products to America including South American countries like Brazil, Argentina and Chile.