India's largest sugar producer Bajaj Hindusthan today reported a 32% decline in its net profit to Rs 57.86 crore for the quarter ended December 31, 2010 on high input cost.
The company had posted a net profit of Rs 85.20 crore in the year-ago period.
However, the total income more than doubled to Rs 1,483.01 crore during the first quarter of 2010-11 fiscal as against Rs 629.13 crore in the corresponding period of the previous year, according to a filing on the Bombay Stock Exchange.
Expenditure rose to Rs 1,300 crore from Rs 466 crore in the period under review, mainly due to a sharp rise in cost of raw materials.
The company has fourteen sugar plants, which are all located in Uttar Pradesh (UP) with an aggregate sugarcane crushing capacity of 136,000 TCD (tonnes crushed per day) and distillery capacity of 800,000 liters of alcohol per day.
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