Financial Daily from THE HINDU group of publications
Saturday, Jul 23, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 23, 2005 |
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Corporate Results
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Sugar Gayatri Sugars Q1 sales up 38 pc Our Bureau
HYDERABAD: Gayatri Sugars Ltd (GSL) has reported a growth of 38 per cent in sales turnover and posted a net profit for the first quarter of current fiscal ended June 30 as compared with net loss in the corresponding quarter of the previous fiscal. As per the unaudited financial results for the quarter, the company posted net sales of Rs 23.34 crore as against Rs 16.9 crore.Net profit stood at Rs 10.21 lakh as against a net loss of Rs 1.75 crore in the first quarter of 2004-05. GSL, which recorded a turnaround during last fiscal with a net profit of Rs 5.21 crore on a turnover of Rs 75.9 crore, is hopeful of reporting better financial performance for the current fiscal in view of the favourable monsoon conditions and firming up of sugar prices in the market. However, in a press release here, the company said sugar industry being seasonal, the quarterly results cannot be taken as proportionate. On Friday the GSL stock on closed at Rs 18 on the BSE.
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