Financial Daily from THE HINDU group of publications
Thursday, Feb 02, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 02, 2006 |
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Corporate Results
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Sugar Agri-Biz & Commodities - Financial Performance Higher production cost brings down Balrampur Chini Q3 net profit Our Bureau
Kolkata , Feb. 1 BALRAMPUR Chini Mills Ltd (BCML) has bettered its profit after tax (PAT) by 59.4 per cent to about Rs 114 crore during the first nine months of the current fiscal from Rs 71.6 crore during the same period last year. Its revenue earnings improved by about 30 per cent to about Rs 788 crore (Rs 604 crore). However, its net earnings for the quarter ended December 2005 were lower at Rs 40 crore (Rs 45 crore). The earnings were lower because of higher cost of production, which is said to be peculiar to this quarter due to the seasonal nature of the industry. Announcing the results, the Managing Director of BCML, Mr Vivek Saraogi, said that the company's sugar business recorded healthy sales, while price realisation of sugar for the nine months under review was better at Rs 1,699 a quintal (Rs 1,542). Total cane crushed during the third quarter increased by 23.7 per cent to 153 lakh quintals from 123 lakh quintals earlier. Mr Saraogi said that the outlook for the cane crop in BCML's command area was positive and this would enable the required availability of cane for enhanced capacities. He also said that the company's distillery operations continued to sustain performance. Ethanol offtake to oil companies continued to be progressive, and should stabilise at higher levels. The company's power generation posted a robust performance for the first nine months.
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