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New Delhi, July 26 Triveni Engineering & Industries Ltd has posted a net loss of Rs 19.77 crore on net sales of Rs 343.51 crore for the first quarter ended June 30, 2007, against a profit after tax (PAT) of Rs 32.40 crore on net sales of Rs 299.98 crore during the corresponding quarter of last year.

The loss incurred in the just-ended quarter has been due to the drop in realisations from sugar.

The division has returned a loss before interest and tax of Rs 58.46 crore, which includes a write down of sugar inventories by Rs 38.58 crore.

“The sugar inventories have been valued at net realisable value, instead of cost of production, which was higher,” a company release stated here.

During the April-June 2006 quarter, the sugar division had recorded a profit before interest and tax of Rs 23.48 crore.

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