Dwarikesh Sugar Industries today reported net profit of Rs 46.82 crore in the fourth quarter ended March 31, down from Rs 52.82 crore posted in the same period of the last fiscal.
Net profit in FY17 stood at Rs 158.47 crore, up 307 per cent from Rs 38.97 crore in FY16, the company said.
Net operating income stood at Rs 440.84 crore in Q4FY17, a growth of 91 per cent in comparison to Rs 235.50 crore a year ago. On annual basis, the company reported Rs 1,190.40 crore net operating income in FY17 compared to Rs 794.34 crore in FY16, up 50 per cent.
"The year under review was phenomenal and proved to be an inflection point for India's sugar industry, especially for some sugar companies in Uttar Pradesh. The improvement was on account of a sustained stability in sugar realisations after years of price weakness, complimented by improvement in recovery," Dwarikesh Sugar Chief Financial Officer Vijay S Banka said.
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