Vardhman Special Steels Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 02, 2024 at 02:56 am EST
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Vardhman Special Steels 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 3,973.99 million compared to INR 4,006.27 million a year ago. Revenue was INR 4,056.52 million compared to INR 4,140.7 million a year ago. Net income was INR 218.06 million compared to INR 284.65 million a year ago. Basic earnings per share from continuing operations was INR 2.68 compared to INR 3.5 a year ago. Diluted earnings per share from continuing operations was INR 2.66 compared to INR 3.49 a year ago.
For the nine months, sales was INR 12,219.45 million compared to INR 13,129.54 million a year ago. Revenue was INR 12,430.61 million compared to INR 13,465.12 million a year ago. Net income was INR 588.36 million compared to INR 867.72 million a year ago. Basic earnings per share from continuing operations was INR 7.24 compared to INR 10.69 a year ago. Diluted earnings per share from continuing operations was INR 7.21 compared to INR 10.63 a year ago.
Vardhman Special Steels Limited is an India-based company engaged in the business of manufacturing special and alloy steels. The Company is engaged in producing high-grade billets and hot-rolled bars for varied applications in engineering, automotive, tractor, bearing and allied industries. It produces a variety of steels in terms of type and size. The Company offers products, such as hot rolled, round corner square, peeled and reeled bars, peeled and ground bars, drawn and ground bars, and heat treatment bars. The Company also offers Carbon Steel, Carbon Manganese Steel, Case Hardening Steel, Chrome Steel, Chrome Manganese Steel, Chrome-Moly Steel, Nickel Chrome / Nickel Chrome Moly Steel, Through Hardening Steel, Boron Steel, Micro Alloyed Steel, Vanadium Steel, Nitriding Steel, Ball Bearing Steel, Free/Semi Free Cutting Steel, Spring Steel and High Titanium Steel. It manufactures products using technologies, such as Steel Melting, Bright Bar, Rolling Mill and Heat Treatment.