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Sakthi Sugars today reported net loss of Rs 40.73 crore for the quarter ended June 30, 2013 due to lower sales and higher finance costs. The company had clocked a net profit of Rs 1.37 crore in the year-ago period.
Total income from operations decreased to Rs 254.35 crore in the first quarter of fiscal 2012—13 from Rs 357.98 crore a year earlier.
The company incurred net loss as its sales fell sharply to Rs 254.16 crore from Rs 356.87 crore and finance cost jumped to Rs 41.86 crore from Rs 25.76 crore during the period under review.
Sakthi Sugars has four plants —— three in Tamil Nadu and one in Orissa, with the aggregate capacity of 19,500 tonnes of cane crush per day (TCD).
The company scrip fell by 3.61 per cent to close at Rs 12.30 on the BSE.
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