Balrampur Chini Mills Q2 Net up by four-fold to 113 cr

Balrampur Chini Mills today said its standalone net profit rose by four-fold to Rs 112.78 crore in the quarter ended March 31, 2011.

The company had posted a standalone net profit of Rs 27.55 crore in the same period last year, Balrampur Chini Mills Ltd said in a filing to the Bombay Stock Exchange (BSE).

The sugar segment made a standalone profit of Rs 95.67 crore, distillery and cogeneration division clocked profit of over Rs 95 crore in the reviewed quarter, it said.

However, the total standalone income dipped by 0.25% to Rs 469.33 crore in the quarter ended March 31, 2011, as compared with Rs 470.61 crore in the corresponding period last year.

The consolidated audited net profit stood at Rs 162.69 in the 18-months period ended March 31, 2011.

Balrampur Chini Mills said the audited figures for 18-months period are not comparable with the previous year in view of the vesting of sugar division of Indo Gulf Industries in the company.

It also said that the Board has recommended a dividend of Rs 0.75 per equity share of Re1  each for the 18-months period.

The shares of the company closed 2.37% up at Rs 71.40 on the BSE.