Dhampur Sugar Mills posts Q4 net profit of Rs 108.82 cr

Dhampur Sugar Mills Monday posted a consolidated net profit of Rs 108.82 crore for the fourth quarter of the 2018-19 fiscal.

The company had reported a net loss of Rs 8.91 crore in the same quarter of the previous financial year, according to a BSE filing.

Net income declined to Rs 900.69 crore during the January-March quarter of the 2018-19 fiscal from Rs 936.06 crore a year ago.

Dhampur Sugar Mills said it has adjusted Rs 48.46 crore during the fourth quarter as a reduction in cost of raw material consumed taking advantage of a central scheme which was launched with a view to offset the cost of cane crushed during 2018-19 season (October-September) to facilitate timely payment of cane price dues of farmers.

During the year, the company has recognised financial assistance paid by the Uttar Pradesh government for the 2017-18 season amounting to Rs 33.41 crore.