Avadh Sugar earns net profit of Rs 29 crore
Kolkata: KK Birla Group company Avadh Sugar and Energy Ltd has reported a net profit of Rs 29 crore for the quarter ended September, compared to a loss of Rs 16 crore in the same period a year ago.
The Kolkata-headquartered company’s total income during the quarter stood at Rs 799 crore, compared to Rs 594 crore in the year-ago period.
Avadh Sugar and Energy Limited said in a release that the company’s EBITDA also increased from Rs 6 crore to Rs 78 crore in July-September last year.
The company now proposes to increase the sugarcane crushing capacity from 10,000 TCD (tonnes of sugarcane crushed per day) to 13,000 TCD, and also improve energy efficiency.
“The Indian agri-economy was affected by the El Nino effect in 2023, resulting in rainfall deficit during critical months of the sugarcane cycle. With expected lower production in the upcoming sugar season, we expect domestic sugar prices to remain stable, strengthening our positive outlook on the sector,” said Co-Chairman C S Nopany.
