SRF Limited Reports Unaudited Standalone and Consolidated Earnings Results for the Second Quarter and Half Year Ended September 30, 2017
November 09, 2017 at 06:09 am EST
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SRF Limited reported unaudited standalone and consolidated earnings results for the second quarter and half year ended September 30, 2017. For the quarter, on consolidated basis, the company reported total revenue from operations of INR 12,864.3 million compared to INR 12,153.5 million a year ago. Profit before tax was INR 1,189.2 million compared to INR 1,526.3 million a year ago. Profit for the period was INR 1,027.6 million compared to INR 1,228.4 million a year ago. Basic and diluted EPS for the period was INR 17.90 compared to INR 21.39 a year ago. Consolidated gross sales of the company grew by 12% from INR 11,440 million to INR 12,860 million, when compared with corresponding period last year. The company's Earnings before Interest and Tax (EBIT) decreased to INR 1,590 million. EBITDA was INR 2,188 million compared to INR 2,395 million a year ago.
For the half year, on consolidated basis, the company reported total revenue from operations of INR 26,755.4 million compared to INR 25,147 million a year ago. Profit before tax was INR 2,455.1 million compared to INR 3,573.3 million a year ago. Profit for the period was INR 2,065.7 million compared to INR 2,774.1 million a year ago. Basic and diluted EPS for the period was INR 35.98 compared to INR 48.31 a year ago. The company's EBIT decreased by 23% from INR 4,290 million to INR 3,300 million over CPLY. EBITDA was INR 4,369 million compared to INR 5,355 million a year ago.
For the quarter, on standalone basis, the company reported total revenue from operations of INR 10,393.3 million compared to INR 9,706.4 million a year ago. Profit before tax was INR 1,028.4 million compared to INR 1,267.6 million a year ago. Profit for the period was INR 897.5 million compared to INR 1,011.5 million a year ago. Basic and diluted EPS for the period was INR 15.63 compared to INR 17.62 a year ago.
For the half year, on standalone basis, the company reported total revenue from operations of INR 21,723.6 million compared to INR 20,356.1 million a year ago. Profit before tax was INR 2,118.5 million compared to INR 3,028.1 million a year ago. Profit for the period was INR 1,782.3 million compared to INR 2,307.3 million a year ago. Basic and diluted EPS for the period was INR 31.04 compared to INR 40.18 a year ago.
SRF Limited is a chemical-based multi-business company engaged in the manufacturing of industrial and specialty intermediates. The Company's segments include Technical Textiles Business (TTB), Chemicals Business (CB), Packaging Film Business (PFB) and Others. The TTB segment's business includes nylon tire cord fabric, belting fabric, polyester tire cord fabric and industrial yarns and its research and development. The CB segment's business includes refrigerant gases, industrial chemicals, specialty chemicals, fluorochemicals and allied products and its research and development. The PFB segment's business includes polyester films and polypropylene films. The others segment includes coated fabric, laminated fabric and other ancillary activities. The Company has around 12 manufacturing plants in India and one each in Thailand, South Africa and Hungary. The Company exports to over 90 countries. It serves various industries, such as automotive, pharmaceuticals, manufacturing and chemicals.