Satia Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 10, 2024 at 03:13 am EST
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Satia Industries 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 4,356.64 million compared to INR 4,867.71 million a year ago. Revenue was INR 4,332.53 million compared to INR 4,892.96 million a year ago. Net income was INR 396.45 million compared to INR 648.38 million a year ago. Basic earnings per share from continuing operations was INR 3.96 compared to INR 6.48 a year ago. Diluted earnings per share from continuing operations was INR 3.96 compared to INR 6.48 a year ago.
For the nine months, sales was INR 12,901.92 million compared to INR 13,630.98 million a year ago. Revenue was INR 12,971 million compared to INR 13,743.72 million a year ago. Net income was INR 1,717.39 million compared to INR 1,458.94 million a year ago. Basic earnings per share from continuing operations was INR 17.17 compared to INR 14.59 a year ago. Diluted earnings per share from continuing operations was INR 17.17 compared to INR 14.59 a year ago.
Satia Industries Limited is an India-based company. The Company is engaged in manufacturing writing and printing paper; generation of power; trading activities in cotton and yarn; and agricultural and plantation operations. The Companyâs segments include Writing & Printing Paper, Cogeneration and Agriculture. Its paper products include Super Snow-White Paper, Maplitho Paper, Coloured Paper, Ledger Paper, Cartridge Paper, Bond Paper, Duplicating Paper, and Copier Paper. It is manufacturing eco-friendly paper by using agricultural residues and wood-based paper as well as, by using ECF bleaching technology. It makes pulp using three types of raw materials, such as agricultural residue, wood chips and wastepaper. It is also focused on the production of specialized food packaging like pizza boxes. It possesses about 540 acres of eucalyptus plantations, created using Karnal technology that helps absorb all treated wastewater discharge, and guarantee future supplies of wood raw material.