Timken India Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 06, 2024 at 08:52 am EST
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Timken India 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 6,122.1 million compared to INR 6,094.36 million a year ago. Revenue was INR 6,227.9 million compared to INR 6,238.05 million a year ago. Net income was INR 675.29 million compared to INR 705.59 million a year ago. Basic earnings per share from continuing operations was INR 8.98 compared to INR 9.39 a year ago. Diluted earnings per share from continuing operations was INR 8.98 compared to INR 9.39 a year ago.
For the nine months, sales was INR 20,117.76 million compared to INR 20,040.47 million a year ago. Revenue was INR 20,417.9 million compared to INR 20,505.34 million a year ago. Net income was INR 2,507.12 million compared to INR 2,862.52 million a year ago. Basic earnings per share from continuing operations was INR 33.33 compared to INR 38.07 a year ago. Diluted earnings per share from continuing operations was INR 33.33 compared to INR 38.07 a year ago.
Timken India Limited is an India-based company, which is engaged in engineered bearings and industrial motion products. The Company is in the manufacture, distribution and sale of anti-friction bearings, primarily tapered roller bearings, other roller bearings, components, accessories, and mechanical power transmission products for a diverse customer base. It also provides maintenance contract and refurbishment services. The Company's manufacturing plants are located at Jamshedpur in Jharkhand & Bharuch in Gujarat and distribution centers are located in various parts of the country. Industrial motion products include augers, automatic lubrication systems, belts, brakes and clutches, chain, couplings & universal joints, gear drives / transmissions, linear motion, lubrication and lubrication systems, Timken maintenance tools, gearboxes overhaul, motor repair services, and up tower wind services. It offers various brands, such as Timken, Beka, Cone Drive, Diamond Drives and others.