Rain Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 10:05 am EST
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Rain Industries Limited reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was INR 41,602.64 million compared to INR 55,770.99 million a year ago. Revenue was INR 42,089.2 million compared to INR 55,957.42 million a year ago. Net loss was INR 901.71 million compared to net income of INR 4,032.23 million a year ago. Basic loss per share from continuing operations was INR 2.68 compared to basic earnings per share from continuing operations of INR 11.99 a year ago.
For the nine months, sales was INR 140,409.05 million compared to INR 155,541.86 million a year ago. Revenue was INR 141,476.79 million compared to INR 156,123.25 million a year ago. Net income was INR 1,808.46 million compared to INR 13,491.24 million a year ago. Basic earnings per share from continuing operations was INR 5.38 compared to INR 40.11 a year ago.
Rain Industries Limited is an India-based company that is engaged in the business of manufacture and sale of carbon, advanced materials and cement. Its segments include Carbon, Advanced Materials and Cement. The Carbon segment consists of Calcined Petroleum Coke, Coal Tar Pitch, Green Petroleum Coke, and other derivates of coal distillation, including creosote oil, naphthalene, carbon black oil, and other basic aromatic oils. The Advanced Materials segment includes the downstream operations of coal tar distillation and consists of engineered products, petrochemical intermediaries, naphthalene derivatives and resins. The Cement segment includes Ordinary Portland Cement (OPC) and Portland Pozzolana Cement. Its range of products serves as raw materials for a range of industries, such as aluminum, carbon black, refractory, specialty chemicals, coatings and construction. The Company's subsidiaries include Rain Cements Limited, Renuka Cement Limited, and Rain Carbon Inc.
RAIN INDUSTRIES LIMITED 
