Balrampur Chini Q2 net profit drops 22 pc at Rs 82 cr

Leading sugar firm Balrampur Chini Mills Ltd today posted a 22.27 per cent drop in its standalone net profit at Rs 82.39 crore in the second quarter of the current fiscal on higher expenses.
In a regulatory filing, the company however said that the revenue from its operations for the second quarter of this year are net of GST (Goods and Services Tax) and cannot be compared with the year-ago quarter which is inclusive of excise duty.
The company had clocked a net profit of Rs 106 crore in the second quarter of the last fiscal.
According to the filing, the company's total income rose to Rs 1,240.58 crore during the July-September period of the 2017-18 fiscal from Rs 941.47 crore in the year-ago period.

But expenses jumped sharply to Rs 1,129.49 crore from Rs 803.99 crore in the period under review, it said.
Balrampur Chini is one of the largest integrated sugar company in India. It has ten sugar factories in Uttar Pradesh having an aggregate sugarcane crushing capacity of 76,500 tonnes per day, distillery and co-generation capacity of 360 kilo litres per day and 163.2 MW, respectively.
Shares of the company closed 3.24 per cent lower at Rs 163 apiece on BSE today.