Precot Meridian Limited announced unaudited standalone earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales/income from operations was INR 1,670.1 million compared to INR 1,322.1 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 90.5 million compared to loss from operations before other income, finance costs and exceptional items of INR 62.7 million for the same period a year ago. Profit from ordinary activities before tax was INR 40.9 million compared to loss from ordinary activities before tax of INR 116.9 million for the same period a year ago. Net profit was INR 27.2 million compared to net loss of INR 79.2 million for the same period a year ago. Basic and diluted earning per share before and after extraordinary items was INR 3.40 compared to basic and diluted loss per share before and after extraordinary items of INR 11.40 for the same period a year ago. For the nine months, the company reported net sales/income from operations was INR 4,802.5 million compared to INR 4,308.0 million for the same period a year ago. Profit from operations before other income, finance costs and exceptional items was INR 314.5 million compared to loss from operations before other income, finance costs and exceptional items of INR 491.1 million for the same period a year ago. Profit from ordinary activities before tax was INR 162.3 million compared to loss from ordinary activities before tax of INR 691.8 million for the same period a year ago. Net income was INR 106.3 million compared to net loss of INR 471.6 million for the same period a year ago. Basic and diluted earning per share before and after extraordinary items was INR 13.29 compared to basic and diluted loss per share before and after extraordinary items of INR 67.86 for the same period a year ago.

Precot Meridian Limited (NSEI:PRECOT) is looking to sell its Yarn Dyeing undertaking situated at Sipcot Industrial Estate, Perundurai and the Weaving and Fabric processing undertaking situated at Pollach. The above proposal was accepted by shareholders.

Precot Meridian Limited announced that they will report Q3, 2013 results on Feb 06, 2013