Sutlej Textiles and Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 03, 2023 at 03:06 am EST
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Sutlej Textiles and Industries Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 6,646.1 million compared to INR 8,132.1 million a year ago. Revenue was INR 6,699 million compared to INR 8,231.2 million a year ago. Net loss was INR 155.6 million compared to net income of INR 365.2 million a year ago. Basic loss per share from continuing operations was INR 0.95 compared to basic earnings per share from continuing operations of INR 2.23 a year ago.
For the nine months, sales was INR 23,301.7 million compared to INR 21,860 million a year ago. Revenue was INR 23,486.1 million compared to INR 22,111.8 million a year ago. Net income was INR 611.3 million compared to INR 985.9 million a year ago. Basic earnings per share from continuing operations was INR 3.73 compared to INR 6.02 a year ago.
Sutlej Textiles and Industries Limited is a textile manufacturing company. The Company operates through two segments: Yarn and Home textiles. Its Yarn segment comprises recycled polyester staple fiber, cotton and man-made fiber yarn. Its Home textiles segment comprises home furnishing and fabric processing. The Company offers a range of products through the yarn category, which includes polyester, acrylic, cotton melange, injection slub yarn, neppy yarn, roving grindle yarn, siro spun, siro compact, lycra twisted, core spun and double core yarns, in single-ply, double-ply and multi-fold. The Company offers a range of products through the home textiles category, which includes upholstery fabrics, drapery fabrics and made-ups. It also manufactures recycled polyester fiber from polyethylene terephthalate (PET) bottles. It offers made-ups, including cushions, throws, curtains and bed scarves in customized designs and sizes as per the specifications of its clients.
SUTLEJ TEXTILES AND INDUSTRIES LIMITED 
