Triveni Engineering & Industries Ltd.,which is into sugar, ethanol and engineering businesses, has reported a marginal increase in its consolidated net profit to Rs 67.61 crore for the quarter ended June.
Its net profit was Rs 66.45 crore in the year-ago period.
The total income rose to Rs 1,444.47 crore in the first quarter of this fiscal from Rs 1,371.34 crore in the corresponding period of the previous year. Sugar turnover declined 15.2% over the corresponding period last year after considering exports, driven by a 21.7% decline in domestic sales volumes due to lower domestic quota allocations, the company said in a statement.
Triveni Engineering the company said in a statement. Triveni Engineering & Industries Ltd Chairman and Managing Director Dhruv M Sawhney said,”Overall performance of the Company during the quarter ended June 30, 2023, has been satisfactory. Alcohol and engineering businesses contributed to 60% of the total segment results.” In the sugar business, he said the company continues to focus on yield improvement initiatiatives by making farmers adopt the best agricultural practices.
“It will be accompanied with increasing crush capacities progressively in sync with increased sugarcane availability. The Company is also in the process of increasing its refined sugar production to 70% (up from 60% currently) by changing the manufacturing process at its sugar unit in Milak Narayanpur,” Sawhney said.
In the alcohol business, he said the company has been a strong supporter of the government’s ethanol blended petrol (EBP) programme and has actively bolstered capacities while keeping pace with the expanding range of feedstocks for bio-ethanol production.
