Balrampur Q1 net loss widens to Rs 72.74 crore

NEW DELHI: Balrampur Chini Mills today reported a standalone net loss of Rs 72.74 crore for the quarter ended June 30 due to poor sales.

The company had posted a net loss of Rs 3.96 crore in the same period last year, it said in a BSE filing.

Net income declined to Rs 636.12 crore in the April-June period of 2015-16 fiscal from Rs 804.36 crore in the year-ago period.

Of total earnings in the said period, revenue worth Rs 525.81 crore was generated from sugar business, Rs 89.70 crore from co-generation and Rs 63.86 crore from distillery segment.

However, the expenses remained lower at Rs 679.40 crore in the first quarter of the fiscal as compared to Rs 779.59 crore in the same period of corresponding year.

In the filing, the company said its Board has decided to close one of the units at Khalilabad.

Balrampur Chini, the country's second-largest sugar firm, has 11 factories located in Uttar Pradesh, having an aggregate crushing capacity of 79,000 tonnes per day.