Sugar firm Balrampur Chini today reported a lower net loss of Rs 3.96 crore for the first quarter ended on June 30 on account of increase in income.
The company has posted net loss of Rs 9.77 crore in the same quarter last year.
During April-June period of 2014, the company’s total income from operations rose to Rs 804.36 crore from Rs 681.62 crore in the same quarter last fiscal, the company said in a BSE filing.
Speaking on the performance, Balrampur Chini Mills Ltd (BCML) Managing Director Vivek Saraogi, said: “The entire sugar industry in Uttar Pradesh has been under tremendous pressure as sugar operations have been unviable after making losses for multiple years in a row.”
BCML crushed 7.82 crore quintals of sugarcane in the current sugar season (October-September) compared to 8.63 crore quintals in the sugar season 2013-14. The production of sweetener for the season stood at 76.53 lakh quintals as against 82.33 lakh quintals in previous sugar season.