PPAP Automotive Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 09, 2023 at 06:23 am EST
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PPAP Automotive Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 1,484.01 million compared to INR 1,284.98 million a year ago. Revenue was INR 1,488.95 million compared to INR 1,288.1 million a year ago. Net income was INR 5.41 million compared to net loss of INR 5.78 million a year ago. Basic earnings per share from continuing operations was INR 0.39 compared to basic loss per share from continuing operations of INR 0.41 a year ago. Diluted earnings per share from continuing operations was INR 0.39 compared to diluted loss per share from continuing operations of INR 0.41 a year ago.
For the six months, sales was INR 2,648.55 million compared to INR 2,517.14 million a year ago. Revenue was INR 2,661.81 million compared to INR 2,525.76 million a year ago. Net loss was INR 22.08 million compared to net income of INR 0.038 million a year ago. Basic loss per share from continuing operations was INR 1.58. Diluted loss per share from continuing operations was INR 1.58.
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.