Net profit of Magadh Sugar and Energy Limited (MSEL) during the third quarter of current fiscal increased to Rs 20 crore as compared to Rs 15 crore in the previous similar period, a company statement said on Friday.
Total income of the company during the quarter stood lower at Rs 203 crore as compared to Rs 222 crore in the third quarter of the previous fiscal.
EBITDA of MSEL during the third quarter increased to Rs 43 crore as against Rs 41 crore in the previous similar period.
Commenting on the results, chairman of MSEL C S Nopany said the Indian sugar industry had undergone various positive structural changes. However, the industry in Bihar suffered a setback due to excessive rainfall impacting production. Another similar group company Avadh Sugar and Energy’s total income during the third quarter of current fiscal stood at Rs 747 crore, while gross profit touched Rs 44 crore.
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