Avadh Sugar reports a Q2 net profit of Rs 29 crore

Avadh Sugar & Energy Ltd, a K K Birla group company, declared a net profit of Rs 29 crore for the third quarter ended September, compared to a loss of Rs 16 crore in the same time last year.

The total income of the Kolkata-based company during the quarter was 799 crore, up from Rs 594 crore in the previous year.

Avadh Sugar & Energy Ltd stated in a release that its EBITDA increased to Rs 78 crore from Rs 6 crore in July-September last year.

“The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency”, the statement reads.

C S Nopany, Co-chairperson stated, “The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle”.

“With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector”, Nopany added.

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