Financial Daily from THE HINDU group of publications
Friday, Jan 30, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 30, 2004 |
||
|
|
||
|
Corporate Results
-
Sugar Bajaj Hind posts Rs 104-cr turnover in first quarter Our Bureau
Mumbai , Jan. 29 BAJAJ Hindustan Ltd (BHL) reported an 83.5 per cent increase in net profit at Rs 4.11 crore for the first quarter of 2003-2004 as compared to Rs 2.24 crore in the year-ago period. The company achieved a turnover of Rs 104.25 crore compared to Rs 92.98 crore in the previous corresponding quarter, a growth of 12.1 per cent. BHL's expanded capacity from 17,000 tcd to 24,000 tcd is fully operational. Trial runs are under progress at the new 60,000 litres per day distillery at Palia and commercial production is expected to commence in the second quarter. "The Government recently announced a Rs. 3.50 per quintal increase in the Statutory Minimum Price (SMP) of sugarcane which however has been stayed by the Delhi High Court,'' the company said in a news release. Sugar production during the current year is likely to be lower than last year due to the drought faced by sugarcane growing areas, notably Maharashtra. Moreover, recoveries are also likely to be lower for the industry as a whole. However, with improved operating efficiencies and expanded capacities, BHL expects to maintain recoveries at the same level as last year. "BHL's expanded capacities will position it as one of the leading players in the sugar industry. We are sharply focused on cost, which we believe will be a sustainable competitive advantage,'' the release said quoting Mr Kushagra Bajaj, Chief Executive, BHL.
More Stories on : Sugar
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|