Financial Daily from THE HINDU group of publications
Tuesday, Jan 17, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 17, 2006 |
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Agri-Biz & Commodities
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Sugar Corporate Results - Sugar Dwarikesh Sugar's Q1 sales growth at 22 pc Our Bureau
Mumbai , Jan. 16 DWARIKESH Sugar Industries Ltd has reported a 22.05 per cent growth in sales to Rs 40.37 crore for the first quarter ended December 2005. The rise in sales was as a result of better realisation in sugar prices. Net profit rose to Rs 7.63 crore, up by 34.85 per cent. "We expect the sugar prices to remain buoyant, which should result in better realisation and enhanced profitability," Mr G.R. Morarka, Chairman and Managing Director, Dwarikesh Sugar Industries said. EPS for the quarter ended December 2005 was at Rs 5.92 on the post GDR capital. DSIL has successfully raised $12 million through the issue of 30,00,000 Global Depository Receipts (GDRs). The GDRs are listed on the Luxembourg Stock Exchange. Each GDR represents one underlying equity share in the Company. The GDR was priced at $4 per GDR.
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