Priti International's net income increases twofold in Q3

Leading furniture manufacturer Priti International Limited has reported results for the third quarter of the financial year 2022-23 and nine months ended December 31, 2022.

According to an exchange filing, the company reported sales of Rs 282.03 million in the December quarter compared to Rs 158.94 million a year ago period. Its revenue stood at Rs 290.01 million compared to Rs 163.2 million in the corresponding quarter last fiscal. 

The furniture brand's net income came at Rs 21.77 million as against Rs 10.76 million in the same quarter last fiscal.

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For the first 9 months during FY23, the company's sales stood at Rs 537.88 million compared to Rs 414.26 million during the same period in the last financial year. The revenue till December 31, 2022, rose to Rs 552.2 million from Rs 437.41 million a year ago while the net income saw a jump of nearly 30 per cent to Rs 48.72 million from Rs 32.92 million.

Meanwhile, shares of the company hit an upper circuit of 5 per cent at Rs 166.45 on NSE. The scrip has yielded multibagger return of 141 per cent in the past one year. The stock's 52-week range is Rs 232.40 - Rs 61.85.

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