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Losses of Gayatri Sugars Ltd have gone up.
Losses increased to Rs 14.75 crore in 2011-12 from Rs 9.48 crore in the previous year. This is despite significant improvement in profits in the fourth quarter. Net profit in the quarter stood at Rs 7.57 crore against a loss of Rs 3.59 crore in the same quarter last year.
The company attributed losses to increase in finance costs that rose to Rs 23.96 crore (Rs 20.94 crore) in the financial year. The total income of the firm nearly doubled to Rs 219 crore (Rs 112.62 crore) during the year.
In the fourth quarter, total income went up three times to Rs 93.69 crore (Rs 30.29 crore), Ms T. Sarita Reddy, Executive Director of Gayatri Sugars, informed the Bombay Stock Exchange on Thursday.
During the last quarter, income from sugar went up to Rs 90 crore (Rs 28 crore).
During 2011-12, the company doubled capital spend on distillery activity to Rs 30 crore (Rs 15 crore). Income from sugar segment doubled to Rs 208 crore (Rs 102 crore).
Pledged shares
During the quarter, percentage of pledged shares as percentage of total shareholding of promoter group went up to 52.36 per cent from 24.08 per cent in the same quarter last year.
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