Balrampur Chini Q2 profit drops 22% at Rs82 crore
New Delhi: Leading sugar firm Balrampur Chini Mills Ltd Tuesday posted a 22.27% drop in its standalone net profit at Rs82.39 crore in the second quarter of the current fiscal on higher expenses.
In a regulatory filing, the company however said that the revenue from its operations for the second quarter of this year are net of goods and services tax (GST) and cannot be compared with the year-ago quarter which is inclusive of excise duty.
The company had clocked a net profit of Rs106 crore in the second quarter of the last fiscal.
According to the filing, the company’s total income rose to Rs1,240.58 crore during the July-September period of the 2017-18 fiscal from Rs941.47 crore in the year-ago period. But expenses jumped sharply to Rs1,129.49 crore from Rs803.99 crore in the period under review, it said.
Balrampur Chini is one of the largest integrated sugar company in India. It has ten sugar factories in Uttar Pradesh having an aggregate sugarcane crushing capacity of 76,500 tonnes per day, distillery and co-generation capacity of 360 kilo litres per day and 163.2mw, respectively.
Shares of the company closed 3.24% lower at Rs163 apiece on BSE on Tuesday.