The Hindu Business Line : Triveni Engg turns around, posts profit after tax of Rs 24.60 cr

New Delhi, Aug. 2 Triveni Engineering & Industries Ltd has announced a profit after tax (PAT) of Rs 24.60 crore for the quarter ended June 30, against a net loss of Rs 19.97 crore in the same quarter of the previous year. Net sales for the period have also gone up 28.11 per cent, from Rs 343.51 crore to Rs 440.06 crore.

For the nine months ended June 30, the company registered a PAT of Rs 84.56 crore on net sales of Rs 1,164.96 crore, as against the previous year’s corresponding nine months’ figures of Rs 7.32 crore and Rs 1,014.95 crore respectively.

The better numbers have been mainly on account of the turnaround in the sugar business, which during the quarter ended June 30, recorded a profit before tax and interest of Rs 26.30 crore on sales of Rs 315.49 crore. The same quarter of the last year witnessed a loss of Rs 42.48 crore on sales of Rs 235.41 crore. For the nine months ended June 30, the profit from sugar amounted to Rs 77.24 (compared to a loss of Rs 42.43 crore), with sales at Rs 816.71 crore (Rs 736.43 crore).

The engineering business registered a profit of Rs 33.97 crore (Rs 34.30 crore) on net sales of Rs 145.16 crore (138.05 crore) for the latest ended quarter. For the cumulative nine months period, these stood at Rs 119.54 crore (Rs 92.97 crore) and Rs 473.80 crore (Rs 426.92 crore).

The company has clarified that in the case of the sugar business, it has valued the cane bought at Rs 110 a quintal, as against the State Advised Price of Rs 125 a quintal.

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