Financial Daily from THE HINDU group of publications
Thursday, Nov 03, 2005
Financial Daily from THE HINDU group of publications Thursday, Nov 03, 2005 |
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Corporate Results
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Sugar Bannari Amman Sugars net up 61 pc Our Bureau
COIMBATORE: Bannari Amman Sugars Ltd has recorded a 61 per cent jump in its net profit for the quarter ended September 2005 at Rs 21.80 crore (Rs 13.51 crore). The net sales, however, slipped to Rs 130.24 crore (Rs 136.33 crore). Despite this, profits continued to rise due to improved sugar price realisation and the additional benefit derived from higher power generation and the newly added distillery plant in its Karnataka factory. Of the total turnover, sugar sales accounted for Rs 71.28 crore (Rs 91.12 crore), while the revenue generation from the distillery plant increased to Rs 13.49 crore (Rs 5.38 crore), others at Rs 6.17 crore and power Rs 39.29 crore (Rs 32.84 crore). The company is targeting a revenue of Rs 575 crore this year. Earning per share has gone up to Rs 22.85 (Rs 14.17). The EPS for the half-year ending September 2005 has touched Rs 32.36 (Rs 19.80). The company is expecting the EPS to touch the Rs 60-mark by March 2006. The share price movement indicate wide variation. From a high of Rs 785.65 a month ago, it dipped to Rs 682 last week. In a span of 9 months (between December 2004 and September 2005), the share price peaked from Rs 337.70 to Rs 860. It is currently trading in the Rs 726 - Rs 733 band.
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