New Delhi: Bajaj Hindusthan Sugar Ltd, India’s largest sugar manufacturer, on Monday posted a stand-alone net profit of 125.57 crore for the fourth quarter ended March, on strong revenues from sugar and distillery businesses.

The company had reported a net loss of 538.61 crore in the same quarter of previous fiscal. Net income increased to 1,641.82 crore in the January-March quarter of the 2015-16 fiscal year from 1,205.99 crore in the year-ago period, Bajaj Hindusthan Sugar said in a BSE filing.

The company’s expenses also remained lower at 1,354.21 crore in the said period when compared with 1,541.60 crore in the corresponding quarter of 2014-15.

For the full 2015-16 fiscal year, the company reported narrowing of its consolidated net loss to 206.59 crore from 1,192.45 crore in the previous year. The company said it holds long term investment in beneficial interest in BHL Securities Trust at 693.72 crore and unquoted non-convertible share at 350.04 crore and unquoted optionally convertible debentures at 370.48 crore in Phenil Sugars.

“There is substantial diminution in value of these investment. The management is of the opinion that the diminution is temporary in nature and therefore no provision considered necessary," it said in the filing. Bajaj Hindusthan has 14 sugar mills with cane crushing capacity of 1.36 lakh tonnes per day and alcohol distillation capacity of 800 kilo litres per day.

The stock of Bajaj Hindusthan Sugar closed 3.49% higher at 19.25, while the Sensex rose 0.27% to 26,725.60 points.

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