Companies

Bajaj Hindusthan posts Rs 125.6 cr net profit

PTI New Delhi | Updated on January 20, 2018 Published on May 30, 2016

Bajaj Hindusthan Sugar, India’s largest sugar manufacturer, today posted a standalone net profit of Rs 125.57 crore for the fourth quarter ended March, on strong revenues from sugar and distillery businesses.

The company had reported a net loss of Rs 538.61 crore in the same quarter of the previous fiscal.

Net income increased to Rs 1,641.82 crore in the January-March quarter of the 2015-16 fiscal from Rs 1,205.99 crore in the year-ago period, Bajaj Hindusthan Sugar said in a BSE filing.

The company’s expenses also remained lower at Rs 1,354.21 crore during the period when compared to Rs 1,541.60 crore in the corresponding quarter of 2014-15.

For the full 2015-16 financial year, the company reported narrowing of its consolidated net loss to Rs 206.59 crore from Rs 1,192.45 crore in the previous year.

The company said it holds long-term investment in beneficial interest in BHL Securities Trust at Rs 693.72 crore and unquoted non-convertible share at Rs 350.04 crore and unquoted optionally convertible debentures at Rs 370.48 crore in Phenil Sugars.

“There is substantial diminution in value of these investments. The management is of the opinion that the diminution is temporary in nature and therefore no provision considered necessary,” it said in the filing.

Bajaj Hindusthan has 14 sugar mills with a cane crushing capacity of 1.36 lakh tonnes per day and alcohol distillation capacity of 800 kilo litres per day.

The stock ended higher by 3.49 per cent at Rs 19.25 on the BSE.

Published on May 30, 2016
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