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Home / Companies / Balrampur Chini Mills posts Rs87 crore profit in Q3

New Delhi: Balrampur Chini Mills, the country’s second largest sugar firm, on Monday reported a standalone net profit of 87.80 crore for the quarter ended December, on account of lower expenses and financial costs.

It had posted a net loss of 65.69 crore in the year-ago period, the company said in a BSE Ltd filing. Net sales remained flat at 848.88 crore in the October-December period of fiscal 2016 fiscal, as against 841.69 crore in the same period last year.

However, the company’s expenses remained lower at 756.80 crore as against 894.13 crore, while its finance cost came down to 7.58 crore from 16.18 crore in the said period.

Balrampur Chini has 11 factories in Uttar Pradesh, having an aggregate crushing capacity of 79,000 tonnes per day. UP-based sugar mills have been incurring losses for last few quarters as sugar prices were below the cost of production. However, in the last few weeks, sugar prices have started firming up following several government measures including export incentive to millers. PTI

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