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Dwarikesh Sugar Industries Ltd has posted an 88 per cent increase in net profit at ₹59.3 crore for the quarter ended June 2017 against a profit of ₹31.5 crore during the corresponding period last year.
The firm’s total and net revenues increased by 70 per cent from ₹306.1 crore and ₹289.7 crore in first quarter of fiscal 2017 to ₹522 crore and ₹493.6 crore respectively in first quarter of fiscal 2018, a release said on Thursday.
“Crushing extended during this quarter, leading to production of 4.5 lakh quintals of sugar, Dwarikesh Sugar Chief Financial Officer Vijay S Banka said in the release.
Based on the company’s performance, the credit rating agency ICRA upgraded our long-term rating to ‘ICRA A plus’ from ‘ICRA A minus' with stable outlook, Banka said.
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