Le Merite Exports Limited Reports Earnings Results for the Half Year and Full Year Ended March 31, 2023
May 29, 2023 at 01:29 pm
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Le Merite Exports Limited reported earnings results for the half year and full year ended March 31, 2023. For the half year, the company reported sales was INR 1,956.94 million compared to INR 3,125.56 million a year ago. Revenue was INR 1,972.05 million compared to INR 3,131.2 million a year ago. Net income was INR 0.432 million compared to INR 98.76 million a year ago. Basic earnings per share from continuing operations was INR 0.02 compared to INR 5.78 a year ago. Diluted earnings per share from continuing operations was INR 0.02 compared to INR 5.78 a year ago.
For the full year, the company reported sales was INR 3,641.328 million compared to INR 5,259.014 million a year ago. Revenue was INR 3,672.432 million compared to INR 5,269.730 million a year ago. Net income was INR 63.567 million compared to INR 210.596 million a year ago. Basic earnings per share from continuing operations was INR 2.71 compared to INR 12.33 a year ago. Diluted earnings per share from continuing operations was INR 2.78 compared to INR 12.33 a year ago.
Le Merite Exports Limited is an India-based company, which is engaged in the business of manufacturing and trading of textile products. The Company's products include yarn, greige fabrics and organic (Gots). Its yarn products include 100% cotton yarn, and cotton blended & synthetic yarns. It provides a full range of sustainable cotton yarn (100% organic cotton, organic in conversion, blend of minimum 5% organic, BCI, recycled cotton (GRS)/ RCS, fair-trade). Its 100% cotton yarn products include ring spun carded, combed & compact - Ne 8/1 To Ne 60/1, open end - OE 6/1 To OE 30/1, and TFO: Ne 10/2 To Ne 40/2 (ring spun & OE). Its cotton blended & synthetic yarn products include CVC 60/40, polyester: cotton 65/35, 52/48, 100% viscose and polyester viscose 65/35. Its fabrics conform to American four-point system of checking. The Company exports to various countries, including United States, China, Turkey, Egypt, Bangladesh, Portugal, South Korea, Spain, Italy, Vietnam, Thailand, and Peru.