Wednesday, December 4, 2024
HomeSugar Industry NewsBajaj Hindusthan Sugar Q1 net loss narrows to Rs 49.72 cr; net...

Bajaj Hindusthan Sugar Q1 net loss narrows to Rs 49.72 cr; net income up marginally

Bajaj Hindusthan Sugar, India’s largest sugar manufacturer, on Friday said its consolidated net loss narrowed down to Rs 49.72 crore in the first quarter of 2021-22 financial year.

The company had posted a net loss of Rs 52.88 crore in the same quarter of the previous fiscal, according to a BSE filing.

Net income rose to Rs 1,357.54 crore in the first quarter of 2021-22 fiscal from Rs 1,337.40 crore in the same quarter the previous year.

Expenses remained higher at Rs 1,407.26 crore as against Rs 1,390.28 crore in the said period.

For the quarter ended June 30, 2021, and in earlier years, Bajaj Hindusthan Sugar said it had incurred losses resulting in the reduction of net worth to that extent.

The losses were mainly attributable to high raw material i.e. sugarcane prices and other inputs cost and relatively lower realisation of sugar due to higher production, it said.

“The group has outstanding cane dues payable to cane farmers,” the company said adding that it is continuously striving for improvement in the operational efficiency in other parameters.

The debt restructuring as per RBI’s S4A Scheme has resulted in improved liquidity, it added.

The company further said that the government has taken various measures to improve the financial health of the sugar industry in the recent past and all these measures are expected to turn around the operations of the sugar industry on a sustainable basis.

Bajaj Hindusthan has 14 sugar mills with a cane crushing capacity of 1.36 lakh tonnes per day and an alcohol distillation capacity of 800 kilolitres per day.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper’s PDF on WhatsApp and other social media platforms.)

Published on: Friday,August 13, 2021, 04:41 PM IST

The above news was originally posted on www.freepressjournal.in

Sugar Times Team
Sugar Times Teamhttps://www.sugartimes.co.in
The Sugar Times Editorial Team is a group of experienced journalists, analysts, and industry experts dedicated to providing in-depth coverage and insights on the global sugar industry. With years of experience in agriculture, trade, sustainability, and market trends, the team brings a wealth of knowledge and expertise to every article they produce.Focused on delivering accurate, timely, and relevant news, the Sugar Times Editorial Team aims to keep industry professionals, stakeholders, and enthusiasts informed on key developments in sugar production, trade policies, innovations, and sustainable practices. Their collective goal is to help readers navigate the complexities of the sugar sector and stay ahead of emerging trends shaping the future of the industry.You may submit your article on info@sugartimes.co.in if you have valuable contributions for the industry readers.
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

WP2Social Auto Publish Powered By : XYZScripts.com