Balrampur Chini Mills Q2 PAT drops 21.5% to Rs 78 cr

Balrampur Chini Mills' consolidated net profit declined 21.53% to Rs 78.30 crore on 50.50% jump in revenue from operations to Rs 1289.79 crore in Q2 September 2020 over Q2 September 2019.

Profit before tax (PBT) skid 18.11% to Rs 99.45 crore in Q2 September 2020 as against Rs 121.45 crore in Q2 September 2019. Tax expense for the quarter rose 8.76% to Rs 16.63 crore as against Rs 15.29 crore paid in Q2 September 2019. The Q2 result was declared after trading hours yesterday, 3 November 2020.

The board at its meeting on 4 November 2020 approved setting up a new distillery unit, thereby increasing the capacity of its distilleries by 320 kilo litre per day (KLPD). With the proposed addition, the total capacity will stand augmented to 840 KLPD from 520 KLPD. The investment amounts to Rs 320 crore (i.e. Rs 220 crore from banks-project loans and Rs 100 crore from internal sources). The addition is expected to be made within 24 months from the date of in-principle approval from the concerned Ministry.

Shares of Balrampur Chini were up 0.03% at Rs 151.25 on BSE.

Balrampur Chini Mills is an integrated sugar manufacturing company. The firm is engaged in the manufacturing of sugar, ethanol and power. The company's segments include sugar, distillery, co-generation and others.

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