ITDL reports dip in Q3 earnings, nine-month growth
February 21, 2024
ITDL sees a Q3 net income drop yet achieves a slight sales increase over nine months.
Indian Toners & Developers Limited (ITDL) reported its earnings results for the third quarter and the nine months ended December 31, 2023, highlighting a mix of challenges and resilience in its financial performance amidst a competitive market landscape.
For the third quarter, the company saw sales amounting to INR 370.85 million (€4.08 million/ $4.45 million), a slight decrease from INR 396.83 million reported a year ago. Revenue also saw a dip, coming in at INR 384.65 million (€4.23 million/ $4.62 million) compared to INR 406.67 million in the same quarter of the previous year. Net income for the quarter stood at INR 56.44 million (€0.62 million/ $0.68 million), down from INR 75.78 million. Basic and diluted earnings per share from continuing operations were both reported at INR 5.21 (€0.057/ $0.063), compared to INR 6.98 a year earlier, indicating a decrease in profitability on a per-share basis.
Over the nine months, the company reported sales of INR 1,139.58 million (€12.54 million/ $13.67 million), showing a slight improvement over the previous year’s figure of INR 1,121.63 million. Revenue for the period was INR 1,182.43 million (€13.01 million/ $14.19 million), up from INR 1,145.09 million, marking a modest year-on-year growth. However, net income experienced a decline, standing at INR 175.21 million (€1.93 million/ $2.10 million) compared to INR 189.41 million in the prior year. Both basic and diluted earnings per share from continuing operations for the nine months were reported at INR 16.15 (€0.178/ $0.194), down from INR 17.46, reflecting the ongoing challenges in maintaining profitability.
ITDL is a leading manufacturer of high-quality toners for laser printers, photocopiers, and multifunction devices, serving OEM and aftermarket segments. ITDL has an extensive distributor and dealer network, underscoring its global reach.
Categories : City News
Tags : Business City Financials Indian Toners Toner
