PPAP Automotive Limited Reports Earnings Results for the First Quarter Ended June 30, 2022
August 10, 2022 at 07:09 am EDT
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PPAP Automotive Limited reported earnings results for the first quarter ended June 30, 2022. For the first quarter, the company reported sales was INR 1,232.16 million compared to INR 787.5 million a year ago. Revenue was INR 1,237.66 million compared to INR 789.26 million a year ago. Net income was INR 5.81 million compared to net loss of INR 44.53 million a year ago. Basic earnings per share from continuing operations was INR 0.42 compared to basic loss per share from continuing operations of INR 3.18 a year ago. Diluted earnings per share from continuing operations was INR 0.42 compared to diluted loss per share from continuing operations of INR 3.18 a year ago.
PPAP Automotive Limited is an India-based manufacturer of automotive sealing systems, interior and exterior automotive parts. In addition, the Company's business also offers rubber automotive sealing system, commercial tool room, and pail containers, among others. The Company operates through a single segment, namely automotive component. The tooling facility manufactures tools for customers in automotive, as well as white goods and electronic goods. The Company has ventured into the development of pail containers. The facility is located at Surajpur Industrial Area, Uttar Pradesh. The Company has also ventured into the electric vehicle market through its subsidiary PPAP Technology Limited. The facility is located in Noida, Uttar Pradesh. The Company serves original equipment manufacturers (OEMs). The Company's manufacturing facilities are located in Noida, Uttar Pradesh; Greater Noida, Uttar Pradesh; Chennai, Tamil Nadu; Pathredi, Rajasthan and Ahmedabad, Gujarat.