Business

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.

Also read: Sheynnis Palacios became Miss Universe 2023

Spriha Rai

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

7 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

8 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

8 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

9 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

9 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

9 hours ago