Hyderabad, Oct. 28
Andhra Sugars Ltd has reported a growth of 24.36 per cent in net sales and a fall of 4.8 per cent in net profit for the second quarter of current fiscal ended September 2006.
As per the unaudited financial results, the company achieved net sales of Rs 157.94 crore as against Rs 127 crore in the corresponding quarter of the previous fiscal, while the net profit declined to Rs 16.26 crore from Rs 17.09 crore, resulting in an EPS of Rs 6 (Rs 6.31) on an equity of Rs 27.11 crore.
The Chairman and Managing Director, Dr Mullapudi Harischandra Prasad, attributed the fall in profit during the quarter to decrease in selling prices of caustic soda and chlorine.
However, for the first half of the current fiscal, the company could report improved net sales at Rs 317.34 crore (Rs 247.92 crore) and a net profit of Rs 36.5 crore (Rs 31.29 crore), yielding an EPS of Rs 13.47 (Rs 11.54).