Rico Auto Industries Limited Reports Earnings Results for the First Quarter Ended June 30, 2022
August 08, 2022 at 09:57 am
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Rico Auto Industries Limited reported earnings results for the first quarter ended June 30, 2022. For the first quarter, the company reported sales was INR 5,634.6 million compared to INR 3,954.6 million a year ago. Revenue was INR 5,681.4 million compared to INR 4,011.6 million a year ago. Net income was INR 84.4 million compared to net loss of INR 11.5 million a year ago. Basic earnings per share from continuing operations was INR 0.62 compared to basic loss per share from continuing operations of INR 0.08 a year ago.
Rico Auto Industries Limited is an India-based engineering company. The Company is supplying a wide range of high precision fully machined aluminum and ferrous components and assemblies to automotive original equipment manufacturers (OEMs) across the globe. The Companyâs integrated services include design, development, tooling, casting, machining and assembly of ferrous and aluminum products. The Companyâs products include oil pump assembly, lube oil filter heads, exhaust manifolds, turbine housings, center housings, backplates, oil pan, intake manifold covers, front cover, valve cover, side cover, balance shafts assembly, gear housing, steering knuckles, gear shifts forks, brake panel assembly, automatic transmission bracket assembly, main bearing caps, clutch assembly, turbine housings, cylinder head covers, flywheels, engine brackets and differential case housings. Its subsidiaries include Rico Auto Industries Inc., USA, and Rico Auto Industries (UK) Limited, U.K.