Sutlej Textiles and Industries Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022
November 04, 2022 at 08:22 am
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Sutlej Textiles and Industries Limited reported earnings results for the second quarter and six months ended September 30, 2022. For the second quarter, the company reported sales was INR 8,195.7 million compared to INR 7,860.5 million a year ago. Revenue was INR 8,260.2 million compared to INR 7,975.5 million a year ago. Net income was INR 313.1 million compared to INR 416.8 million a year ago. Basic earnings per share from continuing operations was INR 1.91 compared to INR 2.54 a year ago.
For the six months, sales was INR 16,655.6 million compared to INR 13,727.9 million a year ago. Revenue was INR 16,787.1 million compared to INR 13,880.6 million a year ago. Net income was INR 766.9 million compared to INR 620.7 million a year ago. Basic earnings per share from continuing operations was INR 4.68 compared to INR 3.79 a year ago.
Sutlej Textiles and Industries Limited is an India-based textile manufacturing company. The Company primarily deals in cotton and manmade fibers yarn and home textiles. The Company operates through two segments: Yarn and Home textiles. Yarn segment comprises of recycled polyester staple fiber, cotton, and manmade fibers yarn. Home textiles segment comprises of home furnishing and fabric processing. The Companyâs yarns portfolio include polyester, acrylic, cotton melange, injection slub yarn, neppy yarn, roving grindle yarn, siro spun, siro compact, lycra twisted, core spun and double core yarns, in single-ply, double-ply, and multi-fold. It also manufactures specialty yarns, such as modal, lyocell, tencel, coolmax, lycra, and thermolite fiber. The Company offers a range of products through the home textiles category, which includes upholstery fabrics, drapery fabrics and made ups. The Company's subsidiary is Sutlej Holdings, Inc.