Financial Daily from THE HINDU group of publications
Tuesday, May 17, 2005
Financial Daily from THE HINDU group of publications Tuesday, May 17, 2005 |
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Corporate Results
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Sugar Balrampur Chini PAT doubles in 2004-05 Our Bureau
Kolkata , May 16 SUGAR major Balrampur Chini Mills Ltd (BCML) has ended 2004-05 on a net income of Rs 816.28 crore and profit-after-tax of Rs 125.06 crore. The company has recommended a dividend of 160 per cent on Re 1 share face value. While the turnover increased by 15.73 per cent compared with the previous financial year, the PAT jumped by 106.75 per cent. The company proposes to set up a 10 MW cogeneration plant at its recent sugar unit at Akbarpur in Uttar Pradesh. According to a press statement issued by the company, total cane crushed during 2004-05 was 418.85 lakh quintals against 363.25 lakh quintals in 2003-04. Total sugar production increased by 16.2 per cent to end at 42.31 lakh quintals. "Average recovery improved to 10.20 per cent from 10.03 per cent. Balrampur, Bhabnan and Haidergarh units delivered higher crushing, recovery and sugar production. The recovery at Bhabnan unit was the highest in Uttar Pradesh," the press release stated. Meanwhile, the company has decided to bring in an Employees Stock Option Scheme. The matter, at present, has been referred to the remuneration committee of the board of directors.
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