Simbhaoli Q2 net declines by 83% to Rs 2.02 cr
Simbhaoli Sugars Ltd on Tuesday reported a 83 per cent decline in net profit at Rs 2.02 crore for the quarter ended September 30 as compared to Rs 11.7 crore in the year-ago period, mainly due to higher cost of production and a dip in the sugar pr...
By PTI |
NEW DELHI: Simbhaoli Sugars Ltd on Tuesday reported a 83 per cent decline in net profit at Rs 2.02 crore for the quarter ended September 30 as compared to Rs 11.7 crore in the year-ago period, mainly due to higher cost of production and a dip in the sugar prices.
The gross turnover, however, rose by 41 per cent to Rs 155.62 crore during the same period as compared to Rs 110.32 crore in the corresponding quarter last fiscal, the company release said.
The sugar prices have declined in the last quarter, coupled with higher cost of production, which has led to decline in profitability across the industry, simbhaoli sugars director-finance sanjay tapriya said commenting on the results.
The figures for the corresponding previous quarter are not comparable as there was an extra-ordinary income of Rs 12.03 crore in second quarter last fiscal, he added.
The gross turnover, however, rose by 41 per cent to Rs 155.62 crore during the same period as compared to Rs 110.32 crore in the corresponding quarter last fiscal, the company release said.
The sugar prices have declined in the last quarter, coupled with higher cost of production, which has led to decline in profitability across the industry, simbhaoli sugars director-finance sanjay tapriya said commenting on the results.
The figures for the corresponding previous quarter are not comparable as there was an extra-ordinary income of Rs 12.03 crore in second quarter last fiscal, he added.
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