Simbhaoli Sugar reported profit of Rs 71.9 crore in the second quarter of financial year 2010. The company has made a loss of Rs 29.1 crore in the corresponding quarter last year.
Net sales also rose 62.2 per cent to Rs 706.5 crore. In the second quarter last fiscal, the company had reported sales of Rs 435.5 crore.
In a notification to National Stock Exchange, the company said that the earnings per share stood at Rs 33.1 for the quarter.
Sanjay Tapriya, director finance, Simbhaoli Sugars, said: “On account of better realisation and off season refining of raw sugar at its sugar plants, the Company has witnessed a robust improvement in the operating earnings and net profit. Going by the current trend we expect margins to improve further.”
Tapriya expects that the financial will further improve in the coming quarter as Simbhaoli is working on improving the production of refined sugar.
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