Premier Explosives Limited Announces Unaudited Standalone Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 25, 2017 at 08:43 am
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Premier Explosives Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported net sales of INR 554.544 million against INR 480.514 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 42.083 million against INR 40.228 million a year ago. Profit from ordinary activities before tax was INR 33.095 million against INR 29.528 million a year ago. Net profit for the period was INR 23.007 million or INR 2.60 basic and diluted per share before and after extraordinary items against INR 18.532 million or INR 2.09 basic and diluted per share before and after extraordinary items a year ago.
For the nine months, the company reported net sales of INR 1,573.499 million against INR 1,258.585 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 119.475 million against INR 81.714 million a year ago. Profit from ordinary activities before tax was INR 94.756 million against INR 29.050 million a year ago. Net profit for the period was INR 64.563 million or INR 7.29 basic and diluted per share before and after extraordinary items against INR 22.752 million or INR 2.57 basic and diluted per share before and after extraordinary items a year ago.
Premier Explosives Limited is an India-based company that is primarily engaged in the manufacture of high energy materials and allied products for the defense, space, mining and infrastructure industries. The Company's geographical segments include India and the Rest of the world. It is focused on developing and manufacturing solid propellants for rockets and strap-on motors for satellite launch vehicles. The Companyâs extended capabilities include products, such as chaff, infrared (IR) flares, explosive bolts, pyro devices, smoke markers, cable cutters, tear gas grenades and many other products, including pyrogen igniters for defense and space applications. The Company has over two units under defense and explosive manufacturing, where one unit is at Peddakundukur and the second at Katepally, which are located in the State of Telangana. In addition, the Company has over six bulk explosive manufacturing locations spread across Madhya Pradesh, Maharashtra, Telangana and Tamil Nadu.