Renaissance Global Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 06, 2023 at 01:35 pm
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Renaissance Global 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 7,239.05 million compared to INR 7,739.33 million a year ago. Revenue was INR 7,249.68 million compared to INR 7,749.46 million a year ago. Net income was INR 269.95 million compared to INR 332.95 million a year ago. Basic earnings per share from continuing operations was INR 2.91 compared to INR 3.57 a year ago. Diluted earnings per share from continuing operations was INR 2.89 compared to INR 3.47 a year ago. Basic earnings per share was INR 2.86 compared to INR 3.57 a year ago. Diluted earnings per share was INR 2.84 compared to INR 3.47 a year ago.
For the nine months, sales was INR 17,378.69 million compared to INR 16,605.26 million a year ago. Revenue was INR 17,420.62 million compared to INR 16,724.35 million a year ago. Net income was INR 667.46 million compared to INR 846.24 million a year ago. Basic earnings per share from continuing operations was INR 7.12 compared to INR 9.07 a year ago. Diluted earnings per share from continuing operations was INR 7.08 compared to INR 8.97 a year ago. Basic earnings per share was INR 7.07 compared to INR 9.06 a year ago. Diluted earnings per share was INR 7.03 compared to INR 8.96 a year ago.
Renaissance Global Limited is an India-based Jewelry manufacturing company. The Company is engaged in manufacturing of gold and diamond studded jewelry and jewelry making services. It is engaged in manufacturing / trading and retail of jewelry, gems, diamond and furniture and accessories. The Company operates through two geographical segments: domestic sales and export sale. The Company craft over 1,000 designs per month. The Company has eight manufacturing units across Mumbai, Bhavnagar, and Dubai. It markets its products under Hallmark and Disney brands. Its subsidiaries include Renaissance Jewelry New York Inc., USA; Verigold Jewellery (UK) Ltd., London; Renaissance Jewellery Bangladesh Pvt. Ltd., Bangladesh, and Verigold Jewellery DMCC, Dubai.