Zenith Steel Pipes & Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 14, 2023 at 09:30 am EST
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Zenith Steel Pipes & 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 248.88 million compared to INR 435.54 million a year ago. Sales was INR 248.88 million compared to INR 435.54 million a year ago. Sales was INR 248.88 million compared to INR 435.54 million a year ago. Revenue was INR 255.69 million compared to INR 464.66 million a year ago. Revenue was INR 255.69 million compared to INR 464.66 million a year ago. Revenue was INR 255.69 million compared to INR 464.66 million a year ago. Net loss was INR 6.93 million compared to net income of INR 21.62 million a year ago. Net loss was INR 6.93 million compared to net income of INR 21.62 million a year ago. Net loss was INR 6.93 million compared to net income of INR 21.62 million a year ago. Basic loss per share from continuing operations was INR 0.04 compared to basic earnings per share from continuing operations of INR 0.17 a year ago. Basic loss per share from continuing operations was INR 0.04 compared to basic earnings per share from continuing operations of INR 0.17 a year ago. Basic loss per share from continuing operations was INR 0.04 compared to basic earnings per share from continuing operations of INR 0.17 a year ago. Basic loss per share was INR 0.05 compared to basic earnings per share of INR 0.15 a year ago. Basic loss per share was INR 0.05 compared to basic earnings per share of INR 0.15 a year ago. Basic loss per share was INR 0.05 compared to basic earnings per share of INR 0.15 a year ago.
For the nine months, sales was INR 1,343.77 million compared to INR 1,048.16 million a year ago. Sales was INR 1,343.77 million compared to INR 1,048.16 million a year ago. Sales was INR 1,343.77 million compared to INR 1,048.16 million a year ago. Revenue was INR 1,412.54 million compared to INR 1,082.16 million a year ago. Revenue was INR 1,412.54 million compared to INR 1,082.16 million a year ago. Revenue was INR 1,412.54 million compared to INR 1,082.16 million a year ago. Net loss was INR 146.4 million compared to INR 30.61 million a year ago. Net loss was INR 146.4 million compared to INR 30.61 million a year ago. Net loss was INR 146.4 million compared to INR 30.61 million a year ago. Basic loss per share from continuing operations was INR 0.85 compared to INR 0.16 a year ago. Basic loss per share from continuing operations was INR 0.85 compared to INR 0.16 a year ago. Basic loss per share from continuing operations was INR 0.85 compared to INR 0.16 a year ago. Basic loss per share was INR 1.02 compared to INR 0.2 a year ago. Basic loss per share was INR 1.02 compared to INR 0.2 a year ago. Basic loss per share was INR 1.02 compared to INR 0.2 a year ago.
Zenith Steel Pipes & Industries Limited is an India-based company that is engaged in the manufacturing and selling of electric resistance welded (ERW) and hot dip galvanized pipes in India. The Company also manufactures spirally welded pipes (HSAW) from 18 inch to 100-inch outside diameter (OD), which are used in the bulk transportation of water. Its products include ERW Black Pipes, ERW GI Pipes, and HSAW Pipes. Its products are used for various applications like agriculture and irrigation water distribution, sprinklers, drill rods, bore-well, construction water distribution, firefighting system, chilled water system, structural scaffolding and props, space frames, fence, green house, industrial general engineering, container making, auto industry, oil sector distribution of gas, crude, among others. It supplies ERW Black and galvanized pipes of diameters from 0.5 inch to 20 inch to the United States market from India. It undertakes various domestic and international projects.