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Pune Oct 31 Praj Industries, player in the biofuel segment, has recorded a total income of Rs 181.73 crore for the second quarter of the current fiscal. It had recorded a total income of Rs 148.76 crore for the corresponding quarter last year. The PAT stood at Rs 27.09 crore (Rs 17.49 crore).

Mr Shashank Inamdar, Chief Executive Officer and Managing Director of Praj, noted that while total income had grown more than 46 per cent, net profit had grown over 100 per cent in the first half of FY08 as compared to the first half of FY07. On a sequential basis, operating margin had improved over the corresponding quarter in the previous year, he said.

The improved net profit was due to higher exports in the compositions of sales, he said. He said it has also commissioned its first plant in Europe for British Sugar Plc. British Sugar is one of the leading sugar producers based in the UK . The bio-ethanol plant is also a first for the UK and for British Sugar.

The plant will produce 70 million litres per annum fuel grade ethanol from beet syrup. Praj has supplied technology, engineering for process plant, proprietary equipment and supervision of commissioning, he said.

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