Dalmia Bharat Sugar and Industries Ltd has reported a 20% decline in net profit at Rs 43.36 crore for the third quarter ended December 2018.
The net profit stood at Rs 54.24 crore in December quarter of 2017-18, the company said in a regulatory filing.
Total revenue fell to Rs 467.47 crore during October-December quarter of 2018-19 from Rs 612.20 crore in the corresponding period of the previous year.
During April-December period of this fiscal, net profit fell to Rs 141.23 crore from Rs 146.65 crore in the same period of previous fiscal.
Total income fell to Rs 1,516.35 crore during April-December this year from Rs 1,819.75 crore in the year-ago period.
“Lower sugar segment profitability on account of lower sugar sales realisation for the nine months has been offset to a significant extent by higher profitability of distillery and cogeneration segments,” the company said in a statement.
Jawaharpur distillery has been successfully expanded to 120 kilo litre per day from 80 kilo litre per day during the quarter and a 60 kilo litre per day distillery has been commissioned in Nigohi in the month of January 2019. The benefits of the same would accrue in the subsequent periods, it added.
Dalmia Bharat Sugar & Industries has business interests in integrated sugar (including cogen and distillery), windfarms, magnesite and miscellaneous businesses.
The company has three sugar factories located in Uttar Pradesh (Jawaharpur, Nigohi and Ramgarh) and two in Maharashtra (Kolhapur and Sangli). It has aggregate sugarcane crushing capacity of 29,500 tonne per day.
