Creative Newtech Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 11, 2023 at 03:32 am EST
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Creative Newtech 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 4,212.43 million compared to INR 2,990.44 million a year ago. Revenue was INR 4,289.73 million compared to INR 3,023.59 million a year ago. Net income was INR 76.9 million compared to INR 70 million a year ago. Basic earnings per share from continuing operations was INR 5.52 compared to INR 3.44 a year ago. Diluted earnings per share from continuing operations was INR 5.52 compared to INR 3.35 a year ago.
For the nine months, sales was INR 9,790.86 million compared to INR 6,714.94 million a year ago. Revenue was INR 9,992.78 million compared to INR 6,794.5 million a year ago. Net income was INR 207.95 million compared to INR 140.68 million a year ago. Basic earnings per share from continuing operations was INR 14.33 compared to INR 9.05 a year ago. Diluted earnings per share from continuing operations was INR 14.33 compared to INR 8.82 a year ago.
Creative Newtech Limited is an India-based company, which is engaged in the information and communication technology distribution market. The Companyâs segments include Fast Moving Social Media Goods (FMSG), Fast Moving Consumer Technology (FMCT), Enterprise Business (EB) and Fast-Moving Electronic Goods (FMEG). The FMCT segment includes established and fast-moving consumer products that cater to personal as well as organizational demands, such as Samsung, iBall and Viewsonic. The EB segment comprises products which are supplied to enterprises and are high-volume. Some brands in this category include MSi, Printronix and Philips. The FMEG segment covers its alliance with Reliance, through which it offers home appliances, bulbs and lights from brands, such as BPL and Kelvinator. The Companyâs business-to-business (B2B) e-commerce platform caters to a range of sub-distributors, retailers and other customers, and serves as a one-stop-shop offering end-to-end solutions for them.