Platinum Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
March 21, 2024 at 04:34 am EDT
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Platinum Industries Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 612.21 million compared to INR 652.26 million a year ago. Revenue was INR 620.39 million compared to INR 653.94 million a year ago. Net income was INR 100.47 million compared to INR 113.29 million a year ago. Basic earnings per share from continuing operations was INR 2.5 compared to INR 2.9 a year ago. Diluted earnings per share from continuing operations was INR 2.5 compared to INR 2.9 a year ago.
For the nine months, sales was INR 1,840.41 million compared to INR 1,711.93 million a year ago. Revenue was INR 1,857.71 million compared to INR 1,719.26 million a year ago. Net income was INR 331.1 million compared to INR 279.04 million a year ago. Basic earnings per share from continuing operations was INR 8.23 compared to INR 7.15 a year ago. Diluted earnings per share from continuing operations was INR 8.23 compared to INR 7.15 a year ago.
Platinum Industries Limited is an India-based multi-product company. The Company is engaged in the business of manufacturing stabilizers. The Company's business segment includes polyvinyl chloride (PVC) stabilizers, chlorinated polyvinyl chloride (CPVC) additives and lubricants. It operates in the specialty chemicals industry. Its products find their application in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, and others. Its products include PVC Stabilizers, such as Lead Stabilizer (Commodity), hybrid low lead stabilizers, Highstab (Ca-Zn/Ca-Org) and PVC Add packs; CPVC Add packs and CPVC Compound; lubricants, including polyethylene (PE) wax, oxidized polyethylene (OPE) wax and Lubpack, and metallic soaps, such as calcium stearates, zinc stearates, barium stearates and aluminum stearates. Its PVC has applications in pipes, medical tubes, cable insulation and others.