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Dwarikesh Sugar Industries today reported 18 per cent decline in its net profit to Rs 30.08 crore for the quarter ended September 30.
Its net profit stood at Rs 36.76 crore in the year-ago period.
The revenue from operations rose 23 per cent to Rs 316.55 crore in the second quarter of this fiscal from Rs 256.45 crore in the corresponding period previous year.
"This quarter was a challenging quarter as there was no crushing and no contribution emanating from the power segment. The crushing season 2017-18 has already begun with two of our plants commencing crushing on the October 26 and one on the October 29 and we expect improvement in crushing numbers this season," the company's Whole Time Director and CFO Vijay S Banka said in a statement.
"We shall continue with our strategy to build better operating efficiencies, cost control, better cane development and de-leverage our balance sheet going forward," he added.
Dwarikesh Sugar has three sugar mills, located in Uttar Pradeshs sugarcane-rich belt of Bijnor and Bareilly districts. The company's combined production capacity is 21,500 tonnes of sugarcane per day.
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