Harsha Engineers International Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 14, 2023 at 10:35 am
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Harsha Engineers International 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 3,006.8 million compared to INR 3,231.4 million a year ago. Revenue was INR 3,141.8 million compared to INR 3,257.3 million a year ago. Net income was INR 317.4 million compared to INR 182.1 million a year ago. Basic earnings per share from continuing operations was INR 3.45 compared to INR 3.47 a year ago. Diluted earnings per share from continuing operations was INR 3.45 compared to INR 2.36 a year ago.
For the nine months, sales was INR 10,203.3 million compared to INR 9,526 million a year ago. Revenue was INR 10,443 million compared to INR 9,633.6 million a year ago. Net income was INR 906.6 million compared to INR 619.3 million a year ago. Basic earnings per share from continuing operations was INR 11.01 compared to INR 12.22 a year ago. Diluted earnings per share from continuing operations was INR 11.01 compared to INR 8.02 a year ago.
Harsha Engineers International Limited is an India-based precision engineering company. The Company is engaged in the manufacturing of precision bearing cages. Its segments include Engineering and Others, and Solar-engineering, procurement, and construction (EPC) and operations and maintenance (O&M). The Engineering and Others segment includes all activities related with bearing cages and stamp components, including but not limited to sales, services, design, tooling, development, procurement and manufacturing. The Solar-EPC and O&M segment includes all activities related with solar power projects, including but not limited to engineering, design, development, procurement, construction, erection, installation, commissioning, operation and maintenance. The Company offers a range of products, including brass, steel and polyamide cages, precision components, complex stamped components, brass castings, and bronze bushings. It supplies products to both domestic and international customers.